Allow accessories to connect is not available on my Mac M1 Max

AFAIK it should have that setting option. You may need to scroll down the page of the "Privacy & Security" System Settings section to see it. It is just a single line item I believe located near the Filevault option IIRC.

Are you running any anti-virus software, cleaning/optimizer apps, or third party security software?

That option is only available on the M-series laptops. Desktops (even M-series) do not have that option.

Allow accessories to connect to Mac - Apple Support