UE 5.2 on M1 Mac

What experience do folks have of running UE on Apple Silicon? I’m struggling to get started with UE, even though I have a machine which ought to be powerful enough: MacBook Pro 16" M1 Max 10-core CPU, 32-core GPU, 16-core Neural Engine, 32 GB RAM, 1TB SSD, it really struggles even to start UE up, let alone actually doing anything. What am I doing wrong?