Backbone 1.5 not loading (?) on M1 Mac Studio

See attached screenshot. Worked fine on a MacBook running earlier OS. When I attempted to run on new M1 Mac Studio, it initially displayed a nag message (asked for license verification). After moving license, verifying, etc, I see this. Reinstalled and restarted a few times. Thoughts?

I found out many cases lead to the same issue, why there is still no admin consider on it?
I upgrade to Absolute 5 for months, what did I get or I just threw away some money?

Did you solve it? May I ask you how, 'cause I am facing this exact issue, inside Cubase.