I have seen threads on these forums about compatibility issues with macOS 12.x Monterey and third party devices when a Wacom tablet is connected to the Mac. For example, many users have reported having issues mounting external drives while the Wacom tablet is connected. Disconnecting the Wacom tablet has allowed them to mount the external drive. After mounting the external drive, they report they can reconnect the Wacom tablet and use both the tablet and the external drive just fine.
macOS Monterey has had a lot of compatibility issues with both third party hardware & software. Plus M1 Macs also have compatibility issues with some third party devices.
I have not noticed any posts on the Apple forums specifically mentioning issues with the Wacom tablets and M1 Macs, but I may not have seen them.
Are you running any anti-virus software, cleaning apps, or third party security software which may be interfering with the normal operation of macOS? These types of apps are not needed on a Mac and usually cause more problems than they solve. Of course there may be a compatibility issue with some other third party software you have installed, or it may be a problem that Wacom will need to resolve.