No. Not likely.
You say that when you get the error - downloads are locked for 24hrs. Are all files affected when this happens, or just this file?
There are really only 2 possibilities here I think. Either you have managed to somehow use up your download quota (10TB/day), which is quite a feat if you did...
Or else you have hit the limit on how many times a spesific file can be downloaded in a short time. I do not think this lock is 24hrs however, but at least a few hours. I do not know the exact details of this except that it may occur if a file is shared hundreds of times in a short time. This is a pretty hard restriction to trip - unless you use Gdrive as some sort of mass-distribution platform (which is against TOS anyway). I have seen it happen sometimes by mistake however - if certain types of software on a mounted drive keeps accessing the file again and again rapidly, so it is not impossible that it could be a software issue if you know the other things to do not apply to you.
The actual API quota is probably not something you have to think about. There is technically a 24hrs limit on API calls too - but you can't even reach it unless you have something like a dozen users sending requests 24/7 on the same API key. I don't think I have ever seen anyone exhaust this quota. Aside from that there is only a short-term burst quota: 1000req/100sec, so you can not get locked out from the API for very long at a time.
Does it sound like any of these might apply to your situation?
This page will give you a lot of statistics about how the Drive has been accessed - how many download requests there have been ect. Usually you can see if a program is misbehaving here because the numbers will be way too high compared to what you expect. (feel free to share screenshots if it is hard to understand).
To track down what the problem is, it would help a lot if you can supply us with a debug log. Add these two flags:
Try to catch the problem when it happens (ie. being unable to download). Then show us the log-file so we can analyze it (warning - the file may show names of some files and folders that are being accessed). The debug-log can grow very large quickly. You probably have to share it on pastebin for example.