I found this answer on an Adobe forum:
It's an auxiliary process probing your GPU capabilities and intercepting misdirected driver calls to prevent GPU-related crashes. At least that is the original intention. Naturally, when it doesn't work that well it becomes a pain in the rear parts. In any case, it's nothing malicious.
In the past 2 weeks, my iMac is no longer able to be woken up like normally, and the only way I can get it back on is to press the power button, which is crashing everything. I think this is why AIGPUsniffer is showing up for me, since nothing is shutting down properly. Until I figure out this wake/sleep issue, I edited my Dock preferences to not show recent apps just so I don't have to look at it.