Getting back to your original question on the M1 Mini – I bought one about 18 months ago – 1 TB internal SSD, 16 GB Ram, and I think it cost me about $1200.
I was able to handle 4K edits – using 4K clips in projects that ultimately were delivered in 1080p.
The mini was able to handle Premiere, but render and export times were very slow, and we had several crashes as we progressed. I should add that I use external drives – Samsung T7 SSD for both my source and output during the edit, and edited the original files, not proxies.
I’m a recent convert to DaVinci Resolve, just edited a wedding with 3 4K tracks in my timelines on the Mac Mini. It was flawless – no crashes, reasonable render times – so the hardware is quite capable – if not with Premiere then with Resolve. Also tried FCPX – just did not like it, but it handled the material.
I hope this helps.
Bill