A separate installer is available for download in the Zoom Download Center. The release notes for the update explain that Zoom will also release a separate installer for installation of the video conferencing app on Apple Silicon Macs: The highlight for Mac users is that the update will bring support for Apple Silicon Macs, including native performance on the M1 MacBook Air, MacBook Pro, and Mac mini. Zoom has published the release notes for an update it says is scheduled to be released to users tomorrow, December 21.
Look for the M1 Mac mention on the Zoom download page right here. Update: Zoom for Apple Silicon is now available.