The other thing to note is that if the VM you want to run is an Intel one then you need an emulator like Qemu. The changelog notes that it's an 'unsupported work in progress' that is 'known to have very modest performance.' A 'Beta Warning' shows up in the (new and unified) message center, and in the upper-right corner, a 'BETA' warning on the window frame is stacked on top of a construction-style 'Dev Preview' warning sign. I can report that the VirtualBox client informs you, extensively and consistently, about the non-production nature of your client. VirtualBox does seem now Oct 2022 to be working on a macOS ARM version but as Ars Technica says

And on July 28th 2022 VMWare released a tech preview that says it supports Windows 11 and says they are looking into support for macOS. VMware has now (Sept 2021) announced a preview version for ARM that does not officially support Windows or macOS. Parallels and UTM also support other OSs that run on ARM including Windows, Parallels 17 can run macOS Monterey Parallels, UTM and Docker support Linux ARM VMs. To run a virtual machine on Apple Silicon currently VirtualBox is a powerful x86 and AMD64/Intel64 virtualization product One issue you have is that VirtualBox does not run on non Intel architectures.

Virtualbox alternative m1 mac