Well, I had the same issue on Mojave.
You can try this:
1 - Open Google Drive File Stream Preferences
2 - Copy Local cached files directory
3 - Disable Launch Drive File Stream on system startup
4 - Sign out and close Google Drive File Stream
5 - Go to Launchpad -> Other -> Terminal
6 - Type command = sudo -s
7 - Type your password
8 - Type command = cd [the local cached files directory location you copied before at step 2]
9 - Type command = pwd (to be sure where you are)
10 - If you're on the same directory name you got at step 2, type command = rm *
11 - Confirm deletion of all files (if asked)
12 - Type command = ls -la (to be sure all files are gone)
13 - Restart computer
14 - Open Google Drive File Stream, login again, follow the instructions
15 - Check finder to see what happens
By default, there is no way to do this in Mac OS.
However, you can do it with Default Folder X, an app which is specifically designed to set default open and save folders. (Hence the name.)
It is a great app from a long, long, long-time Mac developer. Highly recommended. Comes with a free 30-day trial.
Best Answer
Try disabling spotlight for the newly created Google Drive Volume. It worked for me. Go to Preferences -> Spotlight and then to the Privacy tab. Add the Google Drive volume to the ignored volumes.
The problem is that the spotlight indexing process tries to access all the files in the cloud.
Any process that visits all files inside a drive might trigger this situation, e.g. an antivirus or similar stuff.
Hope this helps.