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Microsoft has released a new Office Insider Preview 16.57.22010502 for Mac users that registered in the Current Channel of the Office Insider program. The new Office update adds improved support for Apple Silicon Macs. You can read the full official changelog below.
Power Query runs natively on Apple Silicon processors
Power Query is now natively supported on Apple Silicon processors. If you previously used the Rosetta emulator to run Excel, you may now disable it and run Excel natively on your devices. To do so, close Excel and open Finder > Applications on your computer. Select the Excel app, then go to File > Get Info (or press Command+I) and uncheck the Open using Rosetta box.
To update to the latest Microsoft Office Insider Preview Build, open any Office program and go to File> Account> Update Options> Update Now.