Hi everyone! Apologies for resurrecting a fairly old thread, and the following (quite probably superfluous) detailed addition (truncated within a "Spoiler"); but I thought that my experience with a similar issue might help someone in the future.
System details: MacBook Pro - Mid 2015 with a 15 inch retina display; an Intel i7-4870HQ CPU rated at 2.5 GHz; an AMD Radeon R9 M370X dedicated GPU; with 16 GB of DDR3L RAM, with an upgraded 2 TB NVMe PCIe 3.1 x4 M.2 SSD. [Identifiers: Retina Mid-2015 15" - MJLT2LL/A - MacBookPro11,5 - A1398 - 2910]. I'm running MacOS Monterey 12.6 on this machine in a non-standard configuration: I use 3rd party kexts by the way of a 3rd party bootloader called "Open Core Legacy Patcher" (OCLP) [currently running version 0.4.10 set at a "Moderate" SMBIOS Spoof Level (to spoof a "MacBookPro 13,1" to enable software-locked features)]. I also use the "Kryptonite" patcher/kernel module to facilitate the use of an external GPU [a Sapphire NITRO+ (AMD) Radeon RX 580 with 8 GB of VRAM, in a Razer Core X eGPU Enclosure (connected through a Thunderbolt 2 to Thunderbolt 3 adapter to my MBP)]. Over the course of the past ~3 years, I have been running these unofficial and unsupported configurations on this device, with few major issues. As a general disclaimer: I'm not recommending the modification of an older Apple computer, and I am not trying to convince that owners of older Apple computers try out any of the above mentioned customizations, unless they understand the risks involved, and the fact that they aren't entitled to any form of support (either from the community or from Apple) upon the implementation of any of the aforementioned customizations.
I usually leave my MBP on and running at home in order to accomodate my workflow. During my downtime, I run background tasks: I have a mirrored data sync to Google Drive (for a crude backup, and file sharing); synchronisation of the various network drives pertaining to my remote/hybrid work; regular local Time Machine backups; and a daily offsite cloud backup service (BackBlaze).
I logged into my computer earlier tonight to work on a project, and was instantly greeted with a substantial degradation in performance (and inconsistent behaviour overall). I subsequently launched Activity Monitor to investigate. The CPU usage display (where I had initially expected to find the problematic process) raised no obvious red flags at the time. Consequently, I pivoted to other theories. The nature of the performance regression made me suspect an issue with my internal SSD. Upon visiting the "Disk" tab in Activity monitor, and sorting by "Bytes Written" in descending order, I was taken aback by the top result: a system process called "kernel_task" had written ~31 TB of data over the course of ~36 hours (and had read about ~1.5 TB of data)!
A subsequent search for answers online, brought me to this thread.
I've been using Google Drive to backup and share my media production files with my clients. Apparently, this application was the root cause of all my issue, having written about 66 GB to volatile memory over the past ~36 hours! Apparently, the "Google Drive" or "BackUp and Sync" Google application had bugged out and crashed in a way that caused a memory leak. This emeory leak took over my RAM overnight, and MacOS extended an invitation for it to take advantage of the flexible SWAP memory available. Looks like this process took over the available RAM, compressed SWAP RAM, and storage based SWAP memory as well. Additionally, it caused kernel_task to write ~31 TB to the disk and read ~1 TB from the disk.
I'm not sure how the math really works out, but upon forcefully closing the "Google Drive" process, my system's performance reverted back to normal, and the "Memory Pressure" was alleviated. My system subsequent returned to its prior state of responsiveness and performance.