Maybe I'm mistaken, but the name "SOCD", to me, sounds like the sort of name that macOS engineers would pick for a "System On Chip Daemon" process.
Where System On Chip refers to the M2 chip, and Daemon is an old BSD Unix term for a system process that runs in the background. The M2 chip contains all sorts of computing units (CPU cores, GPU cores, Neural Engine cores, I/O controllers, etc.) – and it would not surprise me to learn that macOS expects some operations to be carried out within a given time frame. If they were not, that might be considered an indication of a bug or hardware failure that was severe enough to warrant generating an error report, and maybe even deliberately crashing the computer.
I can't say offhand whether the issue is in hardware or in software, but if the problem persisted even after loading a fresh copy of macOS, that might tend to point towards a hardware issue.
You could try running Apple Diagnostics. (Follow the instructions for Apple Silicon Macs.)
Use Apple Diagnostics to test your Mac - Apple Support
If the next step turned out to be be taking the Mac to Apple, or an Apple Authorized Service Provider, the following links might be of interest:
Get your Mac ready for service - Apple Support
How to send your Mac to Apple for service - Apple Support
Mac - Official Apple Support (see links under "Service and Repair")