ARM64 simply refers to the RISC architecture running on your iphone’s processor. Apple licenses chip architecture form the company “ARM” for use in their iOS device processors. ARM architecure supports both 32 bit and 64 bit processing - ARM64 specifically refers to the 64 bit instruction set. When an app developer produces an app in XCode, that app will require (as a dependency) the ARM64 instruction set.
So it is not only a perfectly normal thing to see on an ios device, it is an essential thing. Since iOS 11, iOS itself uses ARM64 almost exclusively.