Had exactly this with my Fogstar Drift 200Ah last winter. Turned out one cell was marginally out of balance — looked totally fine on the main dashboard but when I drilled into the individual cell voltages in VictronConnect it was sitting about 40mV lower than the others under load. Wouldn't flag it at rest but the moment I put the inverter under any real demand it'd dip and trigger the alarm.
Few things worth checking:
- Cell delta under load — not just at rest. That's the key one
- Firmware on the BMS itself — Victron pushed an update a while back that changed some threshold sensitivities
- Loose cell interconnects. Sounds daft but a slightly loose busbar can cause a false voltage drop reading
Also worth looking at your temperature sensor placement if you're running one. Mine was giving slightly skewed readings because it was sat too close to one end of the pack.
If the cell delta is genuinely small (under 20mV at rest) and it's only flagging under load, it might just need a proper top balance. I did mine with a bench power supply at 3.65V per cell and it sorted it completely.
What capacity pack are you running and how old is it? That'd help narrow it down. Others on here will have seen this too — @BatteryBodger and a few of the LiFePO4 crowd seem to know these Victron quirks inside out.