14:50:40: Error: dlopen(/Library/Application Support/audacity/libs/ffmpeg.55.64bit.dylib, 0x0002): tried: '/Library/Application Support/audacity/libs/ffmpeg.55.64bit.dylib' (mach-o file, but is an incompatible architecture (have (x86_64), need (arm64e)))
ls /Library/Application\ Support/audacity/libs/
Unfortunately, M1 Mac users currently have to create their own libraries for Apple Silicon from source. Use the command line version of Xcode and the HomeBrew development environment.
See the following instruction.