I've seen similar panic in the past, I guess the issue was not completely
fixed. Please send-pr so hopefully someone familiar with WAPBL will notice
it and propose a fix ...
For what it's worth, I mounted the filesystem without -o log and deleted the directory with no issue, then rebooted and it mounted with logging again and things work fine.
I will open a pr with what I have and the workaround I did when I get a chance.