Exceptional points (EPs) have seen substantial advances in both experiment and theory. However, in quantum systems, higher-order EPs remain of great interest and possess numerous intriguing properties yet to be fully explored. Here we describe a parity-time symmetry-protected three-level non-Hermitian system with dissipative spin-orbit-coupled fermions in which a third-order exceptional point (EP3) emerges when both the eigenvalues and eigenstates of the system collapse into one. The band structure and its spin dynamics are explored for the ${}^{173}\mathrm{Yb}$ fermion. We highlight the enhanced sensitivity to the external perturbation of the EP3 with cubic-root energy dispersion. Additionally, we investigate the second-order EP (EP2) with square-root energy dispersion in a three-level quantum system in the absence of parity symmetry, which proves that the enhanced sensitivity closely relates to the symmetries of the non-Hermitian system. Furthermore, we analyze the encircling behavior of the EP3 in terms of the slowly evolving limit and the nonadiabatic dynamics beyond the slowly evolving limit and discover some results different from those of the EP2.

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• Cold atoms & matter waves
• Dissipative dynamics
• Non-Hermitian systems
• Ultracold gases