I've had roughly ten kernel panics since getting my Mac Studio Ultra just under a month ago. The error reports range from LLC Bus errors to ApplePMGR errors or Sleep transition errors, but, regardless of what the error reports say, the kernel panics always happen at the same exact time — when my Mac is waking from sleep.
I don't have much of anything connected to the Studio besides my three 4K displays, a keyboard, a mouse and an OWC Thunderbay. Apple Support suggests the Thunderbay is the problem, but I've been using it for the past two years with my iMac without one single panic. And it's a critical part of my workflow since it contains all my work files so it's not exactly easy to test without it.
So, instead, I've replaced cables (even bought the ridiculously expensive Apple 4K Thunderbolt cable), changed how my displays connect to the Mac, even randomly changed which ports the displays connect to. Last night I even changed out my mouse. And while some of that seems to have helped, I do still get kernel panics every now and again. I had one this morning, in fact.
I've been using Macs since the 90s, and have owned a ton of different models over the years. But I'm not sure I've ever had one as unstable (or as expensive) as the Mac Studio.