Apple Silicon only works properly with Stardew Valley v1.5+ and v1.6. Older v1.4 builds crash. There is no legal free download for Mac that works on M1 unless you own the Steam version, which auto-selects the correct build.
If you're planning to play on PC, here are the system requirements: stardew valley compatibility version download free
Many modern mods (SMAPI) now require .NET 6. You will need to find older, archived versions of mods to work with the 32-bit build. Troubleshooting Common Issues Apple Silicon only works properly with Stardew Valley v1