This problem is when you try to launch a VirtualBox VM on an M1(ARM)-based MacOS host. VirtualBox is an x86 hypervisor, it is completely unusable on an ARM based host. By all rights it should refuse to install at all, but users sometimes mislead the installer by running it under the MacOS Rosetta2 emulation feature (later releases of VirtualBox 6.1.x detect this scenario and refuse to install). However that emulation is only a facade, a facade which fails thoroughly when the software tries to do something very Intel specific, such as turning on the hardware virtualization features of the supposed x86 CPU.