Minecraft crashes upon install on macOS Monterey (12.0.1)

Hello, Minecraft is unplayable on my macbook. I have tried a complete uninstall and reinstall of the game, restarted my computer, yet the issue still occurs.

Steps to recreate this problem:

1) Be running macOS Monterey (12.0.1) on 16" (2019) MacBook Pro (can refer to specs in the issue)

2) Install the Mac client from the official Minecraft website (minecraft.net)

3) Click on the .dmg file, drag the icon to the Applications folder

4) In the Applications folder, click on "Minecraft" and it will prompt a window. Click "Open"

5) Minecraft Updater should launch. And then an Error Report pops up.

 

I have attached an Error Report to this post.