Same problem here win MacBook M1 2020, MacOS Big Sur 11.2.3 (20D91), and Google Drive.
Upgrading to 11.2.3 fixed a similar problem I had with an update from Apple Inc, which was listed together with the one for Google Drive, now the one from Apple ha gone, but the one from Google remains in endless "give permission/reboot(/give permission/reboot" loop.
Topic:
App & System Services
SubTopic:
Drivers
Tags: