Don't expect very good performance, but it can be emulated on a mac. If you want the full experience, you gotta go PC. You're better off that way anyway, as mac support for GPUs is terrible, they want to force you to use their M1 GPU which isn't that great. It does have hardware ProRes decoding, however, that is its one strong point, if you happen to capture your video on that format.
Was going to switch back to mac, but after 3 weeks editing with Premiere Pro on a Mac trashcan, I feel like I've gone way back in time. Way WAY back in time. Single-step functionality on Vegas is easily 4 or 5 extra steps on Premiere.
Despite using Media 100 and After Effects 4.0 on PowerMac in the mid 90s, my love affair with Mac is officially over. Starting my search now for another PC with compatible GPU, new or used that'll run Vegas smoothly.
Lot's of comments on the forum over many years about the plusses and minuses of both AMD and NVIDIA GPUs - my earlier computers had AMD GPUs and they worked well for the Vegas Pro versions of the time. My current computer has an NVIDIA GPU (see signature) and it works equally well with both Vegas Pro 18 and 19.
The only thing macs have going for them these days is hardware ProRes decoding. Other than that, the lack of GPU support, the unified memory (so the already slow (for the price) GPU bandwidth is held back further by having to share it with the CPU), and the price kill it for me.
I think the biggest advantage the m1's have is that they are so efficient, that active cooling is largely unnecessary. But their x86/x64 emulation is so spotty that most efforts to run apps and drivers directly under Windows arm64 are not faring well. And neither are virtual machine implementations like Parallels. Also, the M1's ddr4 ram may be efficiently wired directly into the cpu, but is limited to 16 gigs. The newer M1-Max cpu is needed for any more ram. Btw, the Apple igpu processing power is only slightly better than an Nvidia 1650. It is good at ProRes, however. But Apple libs running on the latest and greatest Intel cpus are plenty fast too. Not sure how the m1 performance compares for avc, hevc, and av1... have not seen specific benches on that.
Here's an interesting bench review of Adobe Premier Native on the M1 and M1 Max compared to running the Windows version on some of the latest Ryzen's and Intel 11th gen cpus. The M1's look good compared to other laptops. But they can't hold a candle to higher powered desktops running Nvidia 3000 series gpus.