Python 2 virtualenvs are just not working on Macs with Apple Silicon chip as of now. See https://github.com/pypa/virtualenv/issues/2024 for more information.
The workarounds involving disabling System Integrity Protection and using x86_64 emulation may be unsafe and inefficient and I suggest against following them.
The best solution would obviously be to switch/migrate/upgrade to Python 3, for which virtualenv works like a charm.
If that's not a viable option, then I would consider using Docker instead of virtualenv. python:2
Docker image has the latest Python 2.7.18 version and is available on aarch64 architecture, so it will run without x86_64 emulation. I don't know your use case, but I am using IntelliJ IDEA/PyCharm and it supports using Docker as the SDK, so after a one-time setup it's seamless.
Killed: 9
. – Lindsy