Can install MT5 on Macbook air M1? - page 2
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These articles do not work with MacOS 12 (Monterey).
What works is Parallels with Windows 10/11 ARM, then using the normal MT5.exe from your broker. Lots of overhead though and expensive.
I found one post (I am not sure that it is fully related to this discussion but anyway ...):
Forum on trading, automated trading systems and testing trading strategies
Can't open MT on MacOs
MetaQuotes , 2021.08.02 10:47
You need to upgrade to macOS Catalina or Big Sur.