I have tried both Dock and from applications folder issue is the same. The initial part of the error report is as follows:
Process: Photos [801]
Path: /System/Applications/Photos.app/Contents/MacOS/Photos
Identifier: com.apple.Photos
Version: 6.0 (330.0.150)
Build Info: Photos_Apps-330000150000000~8
Code Type: X86-64 (Native)
Parent Process: ??? [1]
Responsible: Photos [801]
User ID: 501
Date/Time: 2021-03-13 16:58:59.058 +1100
OS Version: macOS 11.2.3 (20D91)
Report Version: 12
Bridge OS Version: 5.2 (18P4347)
Anonymous UUID: F97EC5AB-0AE8-2D1B-F0F8-A378C7E30496
Time Awake Since Boot: 120 seconds
System Integrity Protection: enabled
Crashed Thread: 0 Dispatch queue: com.apple.main-thread
Exception Type: EXC_BAD_INSTRUCTION (SIGILL)
Exception Codes: 0x0000000000000001, 0x0000000000000000
Exception Note: EXC_CORPSE_NOTIFY
Termination Signal: Illegal instruction: 4
Termination Reason: Namespace SIGNAL, Code 0x4
Terminating Process: exc handler [801]