If you have an external display connected, then disconnect it in case it is causing a problem. You may also want to disconnect all other external devices in case one of them is causing a problem (try the display first since).
It sounds like you may have a bad Logic Board since the Kernel Panic is referencing a GPU firmware issue.
You can try running the Apple Diagnostics to see if any hardware issues are detected. If the diagnostics report an issue, then you will need to have the laptop repaired. A passing diagnostic does not mean there are no hardware issues...the only useful diagnostic is one which reports an error.
If the diagnostics don't report an issue, then you can try performing a clean install of macOS by first erasing the drive followed by reinstalling macOS. Make sure to test the laptop thoroughly before installing any third party software or restoring from a backup. If the Kernel Panics continue under these conditions, then you definitely have a hardware issue which will need to be repaired.
Here are the instructions for reinstalling macOS....for a clean install you will need to also "Erase the Disk" option within that Apple article:
How to reinstall macOS - Apple Support
If you perform a clean install, make sure to have a good backup first since erasing the drive destroys all data on the drive.
Normally I would suggest running EtreCheck and posting the report to look for possible third party software causing a problem instead of a clean install, but I doubt that third party software is the issue for a GPU firmware issue. Typical software culprits are anti-virus apps, cleaning/optimizer apps, and third party security software...none of which are needed on a Mac and usually causes more problems than they solve.
Make sure to have a good backup in case the failure becomes worse where the laptop is no longer functional. Plus if the laptop is repaired, the Logic Board will be replaced which means you will lose any data that is not backed up since the SSD is integrated onto the Logic Board.
People should always have frequent and regular backups of their computer and all external media (including the cloud) which contains important & unique data.
