To my knowledge, CCC will not create a bootable clone on Apple Silicon machines. Bombich is pretty clear about that on his site. If above commenters can shed some light on how they created and tested their CCC bootable clone I would appreciate it.
Superduper! bootable clones work fine, I have done several of them during my migration, on 4 different disks, all booted an M1 MBA fine. Initially I had a lot of fails, therefore the following notes: 1), any usb externals you plan to clone to need to be plugged in before booting. Restart if necessary. Its irrelevant if they show up in Finder, can be written to or manipulated in DU, they need to be plugged in prior to booting. 2), use Coca to keep your machine awake during the process. There's gotchas, read the Superduper blog before committing to a purchase.
However, a good part of the reason for having a clone is gone. One can no longer clone to the internal. I'm not sure if the internal is compromised the Mac will even boot off an external (anyone care to donate an Apple Silicon Mac). I find Time Machine has materially improved in its Monterey version. I have one clone to adequately test content creation apps before adopting them. They can be messy installs, at times built on questionable coding with lengthy learning curves.
As a result of Apple Silicon, Monterey and Time Machine improvements, my backup strategy has changed. I no longer use clones for daily backups. I now will have 2 Time Machine disks plus infrequently updated offsite clones. Having had my provider “lose”, and not be able to replicate, 5 GB of data, cloud backups are still a non-starter for me.