Hooray! 1Password now supports Apple silicon. From the 1Password blog:

“1Password now runs natively on Apple’s latest processors and hardware. We’ve been unbelievably impressed at the speed and efficiency of the new Apple Silicon Macs and can’t wait to see what form factors roll out next.”

This is more than simple compatibility. The 1Password team went all-in on embracing the new silicon. I've been running it with no problems. Overall, the Apple silicon transition seems to be going swimmingly for Mac developers.