I'm not an Apple Silicon expert, but neither are the other people answering your question.
Being an expert on Apple Silicon isn't what matters in answering "Can we run Windows 10 on Apple Silicon" - being a Microsoft expert is.
Microsoft has an ARM version of Windows 10, but they only license it for sale shipping on computers from the factory, they don't offer a separate version of it. The only way to get it is to buy a Windows 10 ARM computer, and the version you get is custom for that specific ARM computer. There is no "generic ARM Windows 10 installer."
Microsoft would need to make an "Apple Silicon version" of Windows 10. This is something only Microsoft can choose to do. (Or Apple could choose to pay Microsoft to do it, the way other Windows 10 ARM device makers do; but I can't see Apple offering Windows as a from-the-factory option.)
Since Apple's announcement, Microsoft has made many statements about making Microsoft
Office AS-native. But they haven't said a word about Windows.
Note that developers have gotten a Linux bootloader to run just fine on Apple Silicon Macs - Apple uses a form of Secure Boot, but allows the user (with some effort) to turn it off, so booting an alternate OS is
absolutely possible. And since Microsoft is the official signer of Secure Boot, Windows should be able to load no problem if MS decides to make a version for AS Macs.
So it all comes down to: "Will Microsoft decide that Mac users loading Windows on their own is a big enough target market to make an Apple Silicon version of Windows 10?" Only Microsoft executive can answer that.
Note that on supported ARM Windows 10 devices, Microsoft just released an x86-64 (aka "64-bit Intel") emulator, allowing ARM Windows 10 devices to run Intel code, similar to how M1 Macs can run Intel macOS code. (Although MS's implementation is a full on architecture-emulator, as discussed below, rather than a one-time "code translation".)
Separately, there is the option of emulating an Intel CPU and running Windows inside a virtual machine. This is similar to what is possible on Intel Macs through programs like Parallels Desktop, VMWare Workstation, and the like. On Intel hardware, those systems just pass through the CPU instructions, and emulate the hardware peripherals. You get near-native performance, like you had rebooted in to Windows, for CPU-intensive tasks; and with modern GPU API transcoding, you can get decent graphics performance.
On Apple Silicon, an architecture emulator would need to be added. This isn't unprecedented at all - when Macs ran on PowerPC, the program Virtual PC did this. Microsoft even liked it so much, they bought the company that made Virtual PC, and used it as the basis for their *own* virtualization software (how called "Hyper-V", although I imagine Hyper-V contains very little legacy Virtual PC code.) On Intel, there are many different "alternate architecture" emulation software like this - PearPC for example that lets you run a virtualized PowerPC Mac. Or Mini vMac to run a virtualized 68k Mac.
There are two ways this can be accomplished - Running an Intel virtualization software and letting Apple's Rosetta 2 do the translation from Intel code to Apple Silicon code; or making Apple Silicon native software that includes its own Intel architecture emulator.
Apple specifically disallows virtualization software to use Rosetta 2. I've tried it, it fails. Almost certainly from the fact that Rosetta 2 tries to translate all the code in a program up front, rather than doing it live; and trying to virtualize a whole OS makes that impossible.
So baking Intel emulation in to Apple Silicon-native virtualization app is the way. Note that Parallels already has a functioning beta of Apple Silicon-native virtualization software, but what was demonstrated was running ARM code, an ARM version of Linux. This is similar to the way Parallels works on Intel - it didn't include the Intel emulation. Both Parallels and VMWare have stated that they do plan on releasing AS-native versions. Neither one has specified if they will include an Intel emulator to allow Intel operating systems to run. I would imagine they will.
Lastly, if Microsoft
does release an Apple Silicon version of Windows 10, it should run in the Apple Silicon-native Parallels/VMWare, even without Intel code translation, allowing Windows 10 to run in a VM in macOS. And since Microsoft has an Intel emulator in Windows 10, this virtualized ARM-native Windows 10 would be able to run Intel Windows apps inside the VM, the same way macOS on AS can run Intel macOS apps.