That's why I prefer syncing to Veracrypt instead. If the Arm/M1 Macs didn't throw up such a fuss when installing MacFuse (which Truecrypt required too), using it would have been much easier.
The alternate suggested by Tinyapps was to use Parallels or VMWare running on an M1/M2 Mac and use the Windows version of Veracrypt which is a universal app that runs x86 and Arm, to mount your volumes.
Veracrypt is evolving and I think the latest release dropped some Truecrypt compatibility though.