I have the same issue. Suddenly files are not uploading to either SharePoint or OneDrive. These have all previously uploaded successfully and although big are not huge (i.e. between 100 and 200 Mb). Files I am trying to upload are all PowerPoint files and they seem to fail at the same point every time with an "Error in the application" error. I am replacing files rather than uploading new files. Same problem with both Safari and Firefox which are the only browsers I use.
Please note that I am the IT admin for our site so saying "contact your admin" is not very helpful to me.
The same files easily upload to Dropbox so I don't have an internet or browser issue. My system is:
macOS: Big Sur 11.5.2
Firefox: 92.0
Safari: 14.1.2