PsychoPy code itself is fine (both the gui code and the underlying lib) for mac silicon, but not all the dependencies are compatible.
The main one that is currently a flat “no” for compiling on mac silicon is psychtoolbox. That’s important if you want good timing for your audio stimuli/recordings but if you remove that as a dependency and just use sounddevice for audio playback then you’ll be fine.
The second one, which is less often needed, is the pytables library, which is used by iohub to stream high-bitrate data to an hdf5 file (e.g. 2kHz eyetracking data). update: I’ve just tried installing that on my M2 macbook and it appears to have worked so maybe that one’s solved
Regarding testing of frame rates, I’ve seen the same I’ve seen the same incredibly variable frame times and discussed here but I don’t think this is anything to do with Arm chips or Rosetta. My belief is that this is caused by MacOS providing variable frame rates. But if you have insights into this then I’m keen to know them 