mr_daruman: Currently running Arcanum on my M1 system. Zero issues. Runs smooth.

1. Get Wineskin winery. This new project supports M1+ macs.
https://github.com/Gcenx/WineskinServer

2. Pick and add the latest non-64 bit engine. Create a wrapper and name it Arcanum. Inside the created wrapper double click the Wineskin.app.
For the windows environment for the game go to tools tab> config utility> set the windows version to XP.
Then go to the Registry Editor > current user> Software>Wine>Direct3D> Create a new String Value called Renderer and set its value data to gdi. This will make hardware rending work for the game after installing the Hirez patch (when setting the .ini to either software or hardware rendering).

3. Install Arcanum.
Double click the Wineskin.app in your Arcanum wrapper, click Install software. Choose the GOG installer (wherever you put it). It will get installed inside the Wrapper in drive_c directory.

* instead of 4 and 5 you can also get through steam the Arcanum Multiverse Edition. This includes all of these patches plus even more options. Launch the setup.exe as always from wineskin.app in the Arcanum wrapper.
https://steamcommunity.com/sharedfiles/filedetails/?id=760410053

4. Download the Arcanum unofficial patch.
https://terra-arcanum.com/drog/uap.html
Copy the .exe to your Arcanum folder in the wrapper (drive_c directory). In your Wineskin.app go to advanced, at "Windows app": you can run whatever .exe file you want. Choose the unofficial patch (UAP2.0.2.exe). To run it, press the Test Run button.
Pick the patch and whatever options you want EXCEPT the Hirez patch. We will install that separately.

5. Get the Hirez patch.
https://terra-arcanum.com/drog/highres.html
unzip and copy the HighRes folder to your Arcanum folder in the wrapper.
Open the config.ini file. Set the resolution to your screen rez. For my mac M1 I set it to 1280 x 800.
Make sure renderer is set to HARDWARE. Not software (the game will launch but have a very annoying loading glitch).
DoubleBuffer set to 1 (enabled), Windowed set to fullscreen mode (0), and DDrawWrapper to 0 (not installed). Save.
Now install the patch by running _install.bat file. (In your Wineskin.app go to advanced, at "Windows app": pick the _install.bat file)

6. Run the game.
Again go to "Windows app": and set it to Arcanum.exe. (or if you installed the Arcanum multiverse edition, the Arcanum.exe within the AME folder. You can also setup the game via the config.exe file. Dont forget to unclick Software rendering!)

Close the wineskin.app and double click on your Arcanum wrapper. The game should load!

Subdrek: Bingo! My problem was in fact the engine. You are a lifesaver for pointing out that 64-bit engines are totally unsupported...

I installed WS11WineCX21.2.0 manually, rebuilt the wrapper, and it's now booting to completion. Thanks very much for this walkthrough. :)

EDIT: Here is my system setup, for reference. Using the default
MacBook Pro M2
MacOS 14.4 - Sonoma
Resolution 1512x982 (14in model).

MacBook Pro M2 is the important item, as the Porting Kit website mentions that "an external display is required for M1 and M2 Pro chips." A manual wrapping with your steps clarifies that comment as wrong or outdated.