After a fresh install of macos, removal of samba extra config parameters, new time machine share, and several reboots, I still wasn't able to get time machine periodic backups working (the initial backup works fine).
Luckily I was able to get time machine periodic backups working with just one change to my /boot/config/smb-fruit.conf file.
Periodic backups are working and my /var/log/syslog is not being spammed anymore.