I have seen about a 50/50 for bootable clones working on Apple Silicon Macs from the posts I have seen on these forums for the past two years since things really started getting difficult with one of the minor update patches to macOS 12.x Monterey. Prior to that time people didn't seem to have any issues (or at least very few issues) with bootable clones on Apple Silicon Macs.
With CCC, you definitely need to Right-click or Control-click on the destination within CCC and select the "Legacy" option. CCC will also tell you that the destination drive will need to be erased during the process. Here is what Michael Bombich the developer of CCC has mentioned about bootable clones and his recommended way forward (not sure if he has posted anything since about it):
https://bombich.com/kb/ccc6/cloning-macos-system-volumes-apple-software-restore
https://bombich.com/blog/2021/05/19/beyond-bootable-backups-adapting-recovery-strategies-evolving-platform
It seems people may have better luck with bootable clones on Apple Silicon Macs when using Super Duper. That is a bit surprising since both CCC & Super Duper must utilize the built-in macOS utility "asr" to clone the APFS volumes.
Even if you can get bootable clones working on Apple Silicon Macs today, just keep in mind that Apple has been making changes to macOS even with minor OS updates which have been known to alter macOS functionality, sometimes significantly. I would highly recommend you also come up with another option since I believe you will need it one day.
Also, you may not be aware of this nasty little secret with Apple Silicon Macs, but if the internal SSD fails, or the other hidden APFS Containers outside of macOS become damaged, then you will not even be able to boot to your bootable external clone since those hidden items on the SSD are necessary to access an Apple Silicon Mac's One True Recovery (1TR). At that point, the only way to recover would be to perform a firmware "Restore" which will destroy all data on the internal SSD & push a clean copy of macOS to the internal SSD. So a bootable clone isn't as useful as it was with older Intel Macs.
While trying to locate a link for my reply here, I stumbled across another post I used previously....I had forgotten this other detail which can have some negative consequences with Apple Silicon Macs due to a new concept of "Ownership". See this post here:
Questions about Cloning an Mac M1 - Apple Community