This legacy installer was built for Intel-based Macs. Trying to run an emulated Windows wrapper through Apple's Rosetta 2 translation layer on modern ARM-based chips causes immediate execution failure.
Install a Windows partition on your Intel-based Mac. This is the only method officially recommended by Image-Line Support for legacy versions. Windows Virtualization: Parallels Desktop VMware Fusion to run a Windows environment inside macOS. Third-Party Wrappers: Experienced users sometimes use CrossOver by CodeWeavers to run the original Windows FL Studio 11.0.3 Mac OS X.dmg