I have had a similar issue where my new MBP 16" (m4) running 15.3.1 would appear to randomly lockup. After several instances I tried various things while it was happening. This is what I noticed:
- External USB keyboard stopped working. (plugged into the only right side USB-C port)
- Wifi and bluetooth appeared to stop working (lost Universal Control to other MBP)
- Wireless mouse stopped working.
- Internal keyboard stopped working.
- Internal trackpad stopped working.
- Power/sleep button still worked.
I examined all logs after the system became responsive again and the only thing I could find was in the wifi.log and referenced the keyboard and usb port the keyboard was plugged into.
Wed Feb 19 16:22:00.852 Usb Host Notification hostNotificationUSBDeviceRemoved USB2.0 Hub seqNum 3026 Total 0
Wed Feb 19 16:22:00.857 Usb Host Notification hostNotificationUSBDeviceInserted USB2.0 Hub isApple N seqNum 3026 Total 1
With that in mind, the next time it happened I immediately unplugged the external keyboard and the problem went away almost immediately. Something about that keyboard was causing the MBP to shut down the USB bus it was plugged into. It appears, since I have not looked deeper, that the internal keyboard, trackpad, and wifi are affected when that bus is shut down.
I have swapped out the cable on the keyboard, and ordered a backup/replacement keyboard just in case. Waiting to see if this happens again. This keyboard while less than a month old did work fine with my previous Intel based MBP (late 2019).
My thoughts are that either newer MBPs are more sensitive to USB power issues, or, something has changed in OS X that makes it handle USB power issues differently. I do hope a software update is able to address this. This is also not the first time I have had a Matias keyboard exibit electrical issues, so this may also be my last one from them.
Advice: Try swapping out cables and keep raising this issue. Also take a look at the wifi.log, since it appears to be the only place where USB issues get reported.
-- Frank