Syspolicyd using a lot of CPU twice per hour

I am seeing syspolicyd chew up 600% CPU twice per hour. I've run activity monitor, console, and put an 'lsof' into a script looking for open files and I cannot find out for the life of me what the heck is going on.

When it runs, it can sap the CPU such that video conferencing and other applications really suffer.

I have a macBook Pro (16-inch, 2019), 32GB of RAM, 2.6 GHz 6-Core Intel Core i7 running macOS Monterey 12.3. This was present last year with Big Sur. It's just getting super annoying now.

Last year I got a MacBook upgrade and did NOT do a time machine restore. Hence this is a fairly plain MacBook in that I didn't carry years of garbage forward to the new Mac.

Other things, I have disabled AV to rule that out with no luck.

I'm attaching a CPU graph of just syspolicyd so you can see the % usage over an hour.

I also do not have any 'twice-per-hour' scheduled jobs or programs that run that would align to this window.

Any pointers on how to troubleshoot this?