@kwamstar - the only thing that would be running in GP if you’re not loading anything is your device driver.
Which audio device are you using?
Please try to go to “Audio Options” in GP and select the internal inputs and outputs. See if that changes the istuation. Your device driver may be leaking memory or not work properly under rosetta.
Have you checked with the manufacturer if they support the M1
We have many users running GP under M1 and we ourself, of course, have been testing it under the M1. This has never been seen so the only difference would really be your audio interface.