The Kernel Panic is referencing the SSD:
nvme: "AppleS3XController. PCI link down.
I have seen a lot of people reporting this exact same Kernel Panic with Monterey (I had not seen this type of SSD Kernel Panic being reported/posted on these forums before macOS Monterey). I don't know if this is a Monterey issue, a third party driver interfering with the SSD's NVMe driver, or perhaps it is due to an externally connected device since the last started driver is usb.!UHub. Or it may indicate the SSD is failing although I have not personally encountered this exact Kernel Panic with our organization's Macs since we are not running Monterey yet.
You may want to run EtreCheck to look for possible software issue and post the report here using the "Additional Text" icon which looks like a piece of paper. If you give EtreCheck "Full Disk Access" which will also include some extra information.
You can try running the Apple Diagnostics to see if any hardware issues are detected. Unfortunately diagnostics rarely detect SSD failures.
Try disconnecting all external devices to see if one of them is causing the problem.
Edit: You can try running DriveDx so we can check the health of the SSD. However, the Apple SSD's don't provide much in the way of SSD health information, so I doubt it will show anything, but you never know. Post the complete DriveDx report (text copy) here using the "Additional Text" icon which looks like a piece of paper.