It'll be VM, use Parallels as it has better Windows 11 ARM64 support. You do not want to use Windows 10, it doesn't have x86-64 app compatibility like Windows 11. GPU acceleration is decent but no DX12 support yet.
I've been using Windows ARM on M1 as my primary work PC device since ~January when I got a 13" M1 MacBook Pro. I now have a 16" MacBook Pro M1 Max. Can share particulars of my Parallels config or answer any questions.
this is worth checking out. helps to have someone explain what is going on. youtube is a good place to start. guy also has a twitch channel with a phenomenal amount of viewers.
Edit: your comment history to HN looks great otherwise. That's the opposite of what we usually see when we moderate an egregious comment and then take a look at what else the user has been up to—so I'm sure you didn't mean to be abusive. Just please don't do it again.
This is about the government, not the people. The Russian government is well known for intervening in the affairs of other ranging from invasion (Georgia, Ukraine), to corruption schemes and funding alt-right organizations.