I tried also on Apple Mac M1 with a virtual machine in UTM.
Sort of virtualizing the RPI4 with a 64 bit os.
Trying the pi aarch64 binary from stickfreaks doesn't work either.
So for the first time I installed mame0.243 directly in OSX on my Apple Mac M1 with arm64 cpu.
With the info we have up till now, we should expect that the game should not run because we don't run on a x86/x86_64 machine.
Though, the game works beautifully on the Mac M1.