All the sibling comments appear to have missed your requirement of running Big Sur (macOS 11) --- everything based on Virtualization Framework is "paravirtualisation" and requires cooperation between the host and guest.
You could run the amd64 version of macOS 11 in QEMU on the M1, but that's ARM-to-x86 emulation, which will be slow, and I suppose isn't what you're looking for.
It doesn't matter how sluggish this is - all I'm looking is to start Big Sur, open App Store and install one app ( Final Cut Pro ). In other words, looking for a way to download the older version of FCP.
It uses Apples Virtualization framework and works well, besides issues with virtiofs.
But those can be worked around with virtual block devices aka images.
> Apple’s current implementation of lightweight virtualisation still has no support for Apple ID, iCloud, or any service dependent on them, including Handoff and AirDrop. Perhaps the most severe limitation resulting from this is that you can’t run the great majority of App Store apps, although Apple’s free apps including Pages, Numbers and Keynote can still be copied over from the host and run in a guest macOS.
