I also have this problem.
Not only when several files are synchronised - the iMac also shuts down when only one file (1.5 MB) is synchronised.
Version: 22.099.0508.0001
panic(cpu 0 caller 0xffffff800331cd6b): initproc exited -- exit reason namespace 7 subcode 0x1 description: overflow of service activation count during activate. Managed:1. Count:32767. Service:'user/501/com.apple.xpc.launchd.unmanaged.OneDrive File P.643'
...
Mac OS version:
21F79
Kernel version:
Darwin Kernel Version 21.5.0: Tue Apr 26 21:08:22 PDT 2022; root:xnu-8020.121.3~4/RELEASE_X86_64
Kernel UUID: 3C587984-4004-3C76-8ADF-997822977184
System model name: iMac18,3 (Mac-BE088AF8C5EB4FA2)