Cannot remove a rogue mount point
Alright, I did some more digging and it looks like pointing the finger at /home was a red herring. The problem arose when I was trying to run a Docker image and received an error message along the lines of there not being enough disk space available in /home to mount image data.

From this response it's apparent that while /home serves no direct use to the MacOS file system (it's not referenced in the official MacOS filesystem guide), it's used to mount files when MacOS is connected to an NFS filesystem, like the one in the running Docker container. Some order of doing a clean re-install of Docker, re-mounting /home, re-pulling the Docker image, and restarting my laptop seems to have fixed the issue and my container is now running without issues.

For what it's worth, it is possible to permanently unmount /home, and I found a guide for doing so on this StackOverflow post, albeit for a much older MacOS version than mine.

Thanks to those who responded!