I've found a good and detailed video on YT for installing Windows 11 on Mac M1/M2 ARM using UTM virtualization.
https://www.youtube.com/watch?v=b_hGkl9CSbM
Completed the installation - working seamlessly. Windows 11 Insider on Mac M-series ARM using the UTM app.
Even installed Ubuntu 22.04 on UTM and it's working super great.