Apple Silicon Virtualbox

Apple Silicon Mac Virtualbox
Vmware Fusion M1
Apple Silicon Virtualbox
Vmware Fusion Apple Silicon

It's available since version 10.10 (Yosemite), provides a thin user mode abstraction of the Intel VT features, enables apps to use virtualization without the need of a kernel extension (KEXT), which finally could make them compatible with the OS X App Store guidelines. Performance has to. Many of you folks requested how Android Studio, Docker, Homebrew, Dot Net Core and Lightroom is running on the new Apple Silicon chips. Take a look at the vi. Currently, none of the Mac virtualization solutions support Apple Silicon. However, both VMware and Parallels are working on it. I don’t expect VirtualBox to be updated anytime soon. I expect that, eventually, we’ll be able to run ARM-based Windows with commercial tooling.

The menu is Devices » USB » ... exactly as mentioned in the on-the-fly section of the instructions, which is the method you want to use.
The main thing to understand here is what a VM is, how does it work and how it handles hardware. A VM uses for the most part a virtual CPU (one or more cores from the real one), part of the RAM, a virtual graphics subsystem and a virtual drive, that's it. Just because the VM is running doesn't mean it can access and use the stuff connected by USB. As a matter of fact, this is exactly the beginning of the instructions:

USB devices cannot be shared at the bus level. That means that two computers (a host and a guest) cannot share the same device. Think of it as having a USB stick, a printer, a webcam or a WiFi adapter hooked into two computers at the same time. You simply can't.

Unfortunately this whole discussion suggests your expectations were very different than what can be done in reality. No, in order to use the device in the VM it need to be 'detached' (become unavailable) from the host OS first. The guide provides two methods, one transient via a point-and-click menu, and one 'permanent' (as long as Virtualbox and that VM are running) that sequesters the device as soon as it detects it. The 'permanent' way, via USB filter, does indeed require 'Vendor ID' and Product ID'. Those can be obtained with 'lsusb'. Example:
In the above example (Bluetooth USB dongle), the Vendor ID=0a12 and the Product ID=0001
Whether or not you should have the drivers/software already installed I don't know but it should be the exact same way as in a bare-metal installation. When the device is passed to the guest via Virtualbox menu that is exactly the same as connecting the device in a normal installation, the (guest) OS behaves the same indicating 'new hardware found', plays a sound, etc.
32-bit or 64-bit doesn't matter unless the required drivers/software only run in one or another.

If this is hard to understand - it shouldn't be... - then consider using supported hardware instead. Only you can know how valuable your time is. I certainly wouldn't have spent even half of that just to make a piece of museum work.

These advanced steps are primarily for system administrators and others who are familiar with the command line. You don't need a bootable installer to upgrade macOS or reinstall macOS, but it can be useful when you want to install on multiple computers without downloading the installer each time.

Apple Silicon Mac Virtualbox

What you need to create a bootable installer

A USB flash drive or other secondary volume formatted as Mac OS Extended, with at least 14GB of available storage
A downloaded installer for macOS Big Sur, Catalina, Mojave, High Sierra, or El Capitan

Download macOS

Download: macOS Big Sur, macOS Catalina, macOS Mojave, or macOS High Sierra
These download to your Applications folder as an app named Install macOS [version name]. If the installer opens after downloading, quit it without continuing installation. To get the correct installer, download from a Mac that is using macOS Sierra 10.12.5 or later, or El Capitan 10.11.6. Enterprise administrators, please download from Apple, not a locally hosted software-update server.
Download: OS X El Capitan
This downloads as a disk image named InstallMacOSX.dmg. On a Mac that is compatible with El Capitan, open the disk image and run the installer within, named InstallMacOSX.pkg. It installs an app named Install OS X El Capitan into your Applications folder. You will create the bootable installer from this app, not from the disk image or .pkg installer.

Use the 'createinstallmedia' command in Terminal

Connect the USB flash drive or other volume that you're using for the bootable installer.
Open Terminal, which is in the Utilities folder of your Applications folder.
Type or paste one of the following commands in Terminal. These assume that the installer is in your Applications folder, and MyVolume is the name of the USB flash drive or other volume you're using. If it has a different name, replace MyVolume in these commands with the name of your volume.

Big Sur:*

Catalina:*

Mojave:*

Vmware Fusion M1

High Sierra:*

El Capitan:

* If your Mac is using macOS Sierra or earlier, include the --applicationpath argument and installer path, similar to the way this is done in the command for El Capitan.

After typing the command:

Press Return to enter the command.
When prompted, type your administrator password and press Return again. Terminal doesn't show any characters as you type your password.
When prompted, type Y to confirm that you want to erase the volume, then press Return. Terminal shows the progress as the volume is erased.
After the volume is erased, you may see an alert that Terminal would like to access files on a removable volume. Click OK to allow the copy to proceed.
When Terminal says that it's done, the volume will have the same name as the installer you downloaded, such as Install macOS Big Sur. You can now quit Terminal and eject the volume.

Use the bootable installer

Determine whether you're using a Mac with Apple silicon, then follow the appropriate steps:

Apple silicon

Apple Silicon Virtualbox

Plug the bootable installer into a Mac that is connected to the internet and compatible with the version of macOS you're installing.
Turn on your Mac and continue to hold the power button until you see the startup options window, which shows your bootable volumes and a gear icon labled Options.
Select the volume containing the bootable installer, then click Continue.
When the macOS installer opens, follow the onscreen instructions.

Vmware Fusion Apple Silicon

Intel processor

Plug the bootable installer into a Mac that is connected to the internet and compatible with the version of macOS you're installing.
Press and hold the Option (Alt) ⌥ key immediately after turning on or restarting your Mac.
Release the Option key when you see a dark screen showing your bootable volumes.
Select the volume containing the bootable installer. Then click the up arrow or press Return.
If you can't start up from the bootable installer, make sure that the External Boot setting in Startup Security Utility is set to allow booting from external media.
Choose your language, if prompted.
Select Install macOS (or Install OS X) from the Utilities window, then click Continue and follow the onscreen instructions.

Learn more

For more information about the createinstallmedia command and the arguments that you can use with it, make sure that the macOS installer is in your Applications folder, then enter the appropriate path in Terminal:

Big Sur: /Applications/Install macOS Big Sur.app/Contents/Resources/createinstallmedia
Catalina: /Applications/Install macOS Catalina.app/Contents/Resources/createinstallmedia
Mojave: /Applications/Install macOS Mojave.app/Contents/Resources/createinstallmedia
High Sierra: /Applications/Install macOS High Sierra.app/Contents/Resources/createinstallmedia
El Capitan: /Applications/Install OS X El Capitan.app/Contents/Resources/createinstallmedia

A bootable installer doesn't download macOS from the internet, but it does require an internet connection to get firmware and other information specific to the Mac model.