I need help making sense of this kernel panic

As you have exhausted most of the Trouble Shooting Options in the Other Question and the computer is still offering up issues

Then have a few suggestions ;

1 - Have the computer evaluated by the Professionals who have the Special Hardware Software and Expertise to diagnose the issue and offer possible solutions

2 - Make an Appointment at the Apple Genius Bar or call 1 800 MyApple and have them evaluate the computer

3 - Contact Apple for support and service

I've never seen that type of Kernel Panic before so I don't know how to interpret it.

The best you can do is to try disconnecting all external devices in case one of them is causing a problem. You can also try booting into Safe Mode to see if that makes any difference, but you may lose some functionality since some items won't automatically launch during boot & login. The only real way to determine if it is a hardware issue is by performing a clean install of macOS and thoroughly testing the clean install before installing any third party apps & before restoring from a backup. If you have the Kernel Panic under these conditions of a clean install, then it is a hardware issue. A clean install is when you erase the drive (or rather delete the Volume Group), or when you perform a firmware "Restore"....the latter requires access to another Mac running macOS 12.4+ last time I checked, but it is the best option since it also resets the security enclave & firmware & pushes a clean copy of macOS onto the internal SSD.

Unfortunately a passing diagnostic is meaningless since diagnostics rarely detect hardware issues.

That's a failure in the Secure Enclave Processor. You will need to take the computer to Apple for further diagnostics and repair, as P. Phillips suggests. Make sure you have a Time Machine backup. I'm sure this will be a full wipe whatever happens.

Is this the same MacBook Pro 16-inch | Apple M2 Pro | 512GB - Space Grey ?