A Microsoft file hosting and synchronization service.
Here is what DID work for us (no problems since doing it)! We have a 2013 iMac running Catalina version 10.15.7
Go to https://support.microsoft.com/en-us/office/onedrive-release-notes-845dcf18-f921-435e-bf28-4e24b95e5fc0 and select the version 23.002.0102.0004 under DEFERRED RING. We didn't need to quit the Standalone Updater on Activity Window.
But just to be sure, I uninstalled the Microsoft Updater. And since Catalina OS can't be upgraded or used with OneDrive anymore, it was no loss. Uninstalling was easy, here is how: https://www.switchingtomac.com/tutorials/how-to-stop-microsoft-autoupdate-on-mac/
This may not work for all, but it has been working all day since I did these things.
Good luck to you. This can be a frustrating problem.