@cjadams: It seems that you are working with a Beta version of Big Sur.
Please install Mac Os 11.2.1 stable and report back, thanks.
@horudod:
Experimental M1 chip support is only in Standalone PR7 for now, plugins for M1 should arrive with next PR8 version.
Unfortunately Standalone PR7 Prime it is not available for now, you need to have a little bit of more patience.
ciao Beppe