Do you have the communication cable plugged in to the mac directly or through a USB hub? I know this isn't the exact same issue, but I was getting a Mac restart one second after the unit would come back on AC power after testing with the "initiate test" button and by unplugging from the wall. It never restarted when it was on batteryonly once the wall power had come on for about 1 second. This happened consistently while I had the UPS's communication cable plugged in to a USB hub. Once I moved the comm cable to a USB port on my Mac, I have not had any restarts when testing the battery.
Also, this USB hub does not require or have an external power source, so it does seem to be a strange issuemaybe the Mac lessens power to the USB ports when the UPS is on battery and the hub couldn't supply the power needed? I don't know exactly why, and no one at Cyberpower was able to help me. They had issued me a return label and a refund form. I ended up moving the USB just on a whim, and it fixed my issue.