iCloud Drive eating my local storage

Hello!

I've searched around in the forums a bit, but can't find an issue quite like what I'm having.

iCloud Drive has pretty well taken over. Currently, it reports to be using 412GB of space on my disk. My iCloud+ usage only shows 363GB including family members, and iCloud Drive shows only 1.2GB of that. Any ideas on what is going on here or how to reclaim my local storage?

Running the latest 14.4.1 Sonoma