M1 Macs are having massive problems with kernel panics while attempting to put thunderbolt devices to sleep via power management. Apple is receiving TONS of kernel panic logs but pretends they've never heard of the issue when called via tech support. It appears Apple is pretending the issue isn't real.
You can find instances all over the internet with people complaining about kernel panics and many thunderbolt devices (monitors, raid arrays, TB hard drives, thunderbolt docks, soft raid programs loaded onto external raid arrays, etc). People are also complaining about monitors connected via HDMI. Apple has a massive M1 problem on its hands and so far is pretending it doesn't exist.
Lots of people are returning their M1 Macs before the return window closes because they're not getting any sense that Apple is even acknowledging the problem.