This is because UnrealLightmass uses SSE instructions to create lightmaps which are not supported on ARM processors. Arm processors use NEON instructions that are not implemented yet in unreal engine as far as i know. To fix this error, you need to force build the lightmass for intel processors only.
Select the UnrealLightmass project and make these changes in the architecture tab in the build settings like on the screenshot.
Add the x86_64 in the project build settings
Add the x86_64 in ARCHS and VALID_ARCHS in the UnrealLightmass_Build build settings like on the screenshot
Build the UnrealLightMass and make sure that its building for the [Intel] and not [Apple].
After that build should be successful, run the editor and try to build lighting again, see if it works.
