It runs on M1 Macs. On newer versions of MacOS, Apple has introduced measures that prevent unofficial apps from being run. Therefore it is necessary to use the chmod +x method.
Make sure you are providing the correct folder path to the executable when you run the chmod +x command.
It should look something like:
chmod +x Applications/FPVFreerider.app/Contents/MacOS/FPVFreerider
There is more detailed information in the user manual.
If you want to avoid the hassle of having to enter terminal commands, you can get the Steam version instead. That should run fine without any hacking necessary.
https://store.steampowered.com/app/854250/FPV_Freerider/
http://store.steampowered.com/app/813530/FPV_Freerider_Recharged/
Hope that helps!