Hello Mounty,
a more lightweight solution, without the need for an additional Windows license is to use PortingKit.
Though this is not the primary installation I used previously for running LC, it works perfectly on my M1 MacBook Pro.
I even tried CrossOver, but did not notice any difference, so I went for PortingKit, which comes at no cost.
There is only one slight issue, I noticed. If you try to open a dialog box, e.g. "Option Key"->"Preferences...", the dialog seems to be hidden behind the radar screen. An easy workaround is, to open the "Sector Manual" or "User Guide" via "Option-Key"->"Help" and move the Manual/User Guide window as much to the bottom left out of the screen, that it is barely visible. Now, everything works fine. At least for me.
So, if you like, download and install PortingKit and point it via "Apps"->"Installed"->"Add Application" to the LC Installer. Worked in the past years, works also with the new package. Just tried.
Might be something for you ;-)
Greetings,
DLH123