Game crashes on start when connecting Bluetooth controller on macOS 11

When connecting my SteelSeries Nimbus+ to my 12-inch MacBook or M1 MacBook Air via Bluetooth, the game always crashes when starting, giving an exit code 0. This issue only occurs when connecting the controller via Bluetooth, not when connecting it with a Lightning to USB cable. Feedback has been sent to Apple. Crash reports are attached.

Code Analysis by Nat Brown (Apple) here