M1 MacBook Air keeps restarting during Monterey 12.2 update

I tried to update my M1 MacBook Air to Monterey 12.2, but it won’t go past the boot screen without restarting. The progress bar gets to around 1/4 of the way through and it restarts over and over again.

Holding down the power button doesn’t bring it into the “startup options” screen. It say’s that it’s loading up the “startup options”, but it just cycles through again and starts the whole process of restarting constantly.

Any help with this would be greatly appreciated.