Welp, I've (currently) fixed the problem! After a long session with Apple's senior support folks, I went into a
full safeboot, had my USB DAC plugged in, opened Tidal and no audio skipping. I'm kind of thrilled, because this has been driving me crazy for months now.
That's obviously not a 'fix' yet, but I have a follow-up call scheduled today to dig into it further. In safe mode I slowly re-opened each of the apps I normally use for work to see if things were compatible, and so far everything is nominal. That's actually confusing, because it means something else is loading up in normal mode to cause this issue.
Either way, I can confidently say that the issue is no longer present - so the M1 MB Pro can do it! More as I troubleshoot things further.