Tricky.
Only real solution I know for running Windows ARM on M1 Macs is Parallels:
https://machow2.com/parallels-review/
Will cost you $$$ and there is no guarantee it will work 100%.
An older Intel Mac would be WAY easier. Many you can install Windows 7, 10 (even 11) natively.
Only other solution would be to run it on a remote native Windows machine and control it remotely from the M1 Mac. That way you’d have several options:
https://machow2.com/windows-on-m1-mac/
There was one coder working on a version that ran on Apple M1 ARM processors via Rosetta and also had instructions in the thread if you wanted to compile your own:
https://discuss.eroscripts.com/t/openfunscripter-3-2-0-for-macos/137150
Good luck!