I'm on iPadOS 14.7.1 on a brand new iPad Air 4. I get random hard crashes with a pink screen and green blocks. Often occurs when watching videos in the Hulu app, but also when web browsing in portrait mode in Safari, Brave, Edge, and Chrome, etc.
I also get frequent sidecar disconnects even over USB. I've tried restoring from backups, and wiping it entirely and not restoring. Sometimes goes for hours without issues, other times it'll restart repeatedly every few minutes, making it unusable.