Inserted a DVD (2011 Drive movie) that had tested OK with macOS 11.1 (no crash reports). The initial (small) viewer window appears, then a spinning rainbow Cursor, then switches to full screen mode and the disc's main menu video/audio plays. Performance seems poor. (There's no DVD Player prefs to stop automatic fullscreen mode?) Since the port/drive was working, I quit DVD Player and ejected the disc. I then checked the Console App and for the first time ever on this mini (only Apple supplied software, no migrated data), there was a crash report - CVMServer (EXC_BAD_ACCESS (SIGBUS), Bus error: 10).
Inserted another DVD (13 Hours movie) - same behavior seen and another CVMServer crash report created. (The DVD player app doesn't crash, but every DVD disc played causes a CVMServer crash. Launching the DVD Player without a DVD in the drive doesn't cause a CVMServer crash.)
The DVDs used were retail, commercial movie versions, not burned discs. Also did a Safe Mode boot (to clear caches, etc). And disconnected USB-C adapter, booted up, then reconnected it. No help. (Also tried with the Superdrive connected to a USB-A port, no difference.)

BTW: Playing a Music CD using the Music App doesn't cause a crash report.
(The SuperDrive also works using the USB-A port. Not tried writing CD/DVDs.)

Other Reports of CVM Server Crashes since macOS Big Sur 11.2
I've seen several other M1 Mac owners report (repeated) CVM Server crashes in Apple's forums since macOS 11.2 - some forcing a restart. One user said it happened in Preview app with .png files, a M1 Macbook owner said just opening the lid caused the crash/restart - see posts in CVM Server Crash every day thread. Other CVM Server crash threads here & here. Appears related to Apple's OpenGL.framework. (Unlike those Apple forum post cases, DVD Playback on the M1 doesn't crash the entire operating system or cause the DVD player to quit, but generates a CVMServer Crash report in the Console.)

Have repeatedly reported this to Apple via the macOS feedback page (Bug Report selected).

(macOS Big Sur 11.2 updated the M1 Mac Mini's firmware version to 6723.81.1. I wonder if it's related to the CVM Server crashes, since the Big Sur 11.2 update is when the crashes started, and still not fixed as of macOS 11.2.3 update. M1 Mac Mini firmware has not been updated since macOS 11.2.)

" macOS Big Sur 11.2 improves Bluetooth reliability and fixes the following issues:

• External displays may show a black screen when connected to a Mac mini (M1, 2020) using an HDMI to DVI converter.
  
  
• Edits to Apple ProRAW photos in the Photos app may not save.
  
  
• iCloud Drive could turn off after disabling the iCloud Drive Desktop & Documents Folders option.
  
  
• System Preferences may not unlock when entering your administrator password.
  
  
• Globe key may not display the Emoji & Symbols pane when pressed.

Some features may not be available for all regions, or on all Apple devices."

"Latest Big Sur update gives me 5120x1440 120hz and freesync but only with Display Port 1.2. If I change to Display Port 1.4 I get a blank screen. Any idea why? Samsung CR49."

If you are updating a M1 mini using a HDMI Display, you may see flickering random lines, etc. on screen at one stage of the macOS 11.2 update, just before the progress bar screen. After the macOS 11.2 update, the M1 Mini firmware version is 6723.81.1 (per System Report info).

Security fixes in macOS 11.2 & Security Update 2021-001
Info on security fixes in macOS 11.2 and Security Update 2021-001 for Catalina & Mojave.

Download Pages for Security Update 2021-001
• Download Security Update 2021-001 Catalina (1.35 GB)
• Download Security Update 2021-001 Mojave (1.75 GB)

User Feedback on these Updates
You can check for feedback in Apple's Big Sur, Mojave, & Catalina forums.
(And for M1 Mac owners, also check the Mac Mini, MacBook Pro, & MacBook Air forums.)

FYI: Some M1 Mac Mini owners say USB-C ports are not working after macOS 11.2 update.
(There are other threads on this problem, but the above is the most active.)

• Firefox 85.0.1 includes a security fix, fixed a crash when authenticating to websites using SPNEGO on MacOS with Apple Silicon CPUs, fixes printing an extra blank page at the end of some documents, fixed a browser crash in case of unexpected Cache API state and fIxed external URL scheme handlers when using the Firefox flatpak.
  
  
• Firefox ESR 78.7.1 includes the same security fix as above.

• Some M1 Mac Mini's USB-C ports not working after macOS 11.2 update (Apple forum)
  - A friend's M1 Mini (8GB/512GB) USB-C ports still OK after macOS 11.2 update.
  (Only used with Apple USB-C to USB adapter, connected to Apple USB SuperDrive.)
  - M1 Mini System Report shows firmware version 6723.81.1 after macOS 11.2 update.
  
  
• Pixelmator Pro version 2.0.5 (app store link, macOS 10.14.4 or later)
  - See linked app store page for details on improvements and fixes.
  
  
• An Apple Watch anniversary gift and the future it helped change (apple)

• About the SD and SDXC card slot on your Mac
  
  
• How to Set graphics performance on MacBook Pro
  
  
• (How to) Set up and use Apple Pro Display XDR
  - Includes compatible Macs list & how to attach the Pro Stand or VESA Mount Adapter.
  
  
• How to get old versions of macOS
  
  
• About the security content of Safari 14.0.3
  - Available for macOS Catalina and macOS Mojave.
  
  
• What's new in macOS Big Sur Updates (added 11.2 info)
  
  
• About the security content of macOS 11.2, Security Update 2021-001 for Catalina & Mojave
  
  
• If you get a personalization error when reinstalling macOS on a Mac with Apple M1 chip
  
  
• Obtaining service for your Apple product after an expired warranty
  - originally titled "Vintage and Obsolete products".
  
  
• About privacy and Location Services in iOS and iPadOS

• Chrome 88.0.4324.150 Stable Channel Update (google)
  - includes 1 security fix. (Feb 2nd 88.0.4324.146 update listed 6.)
  
  
• Yamaha Steinberg Mac USB Driver Update v2.0.5
  
  
• 03.21.36 Firmware Update for 2020 LG BX OLED TVs
  - Info and download. (Applicate models list includes many LCD TVs.)
  
  
• Firmware Updates for Onkyo RZ-830/730/630, NR787 Receivers
  - There's also firmware updates for older RZ series models with the same changes.
  - linked page also has Tips and Tricks for Onkyo RZ Receivers.