Bitwig actually has this figured out: all audio stuff is already its own separate separate process and you can even further isolate plugins to separate processes.
Probably they key reason why they get to support X86 plugins on M1.
The track goes quiet, other tracks keep working. I suppose if the track has other ways to make sound (e.g. the plugin is just one of the many instruments it's playing) then it's just that part of the processing graph, but I haven't tried experimenting with that so deeply.
Probably they key reason why they get to support X86 plugins on M1.