The M1 chip is really fast and can speed up your development process due to the build speed, but sadly some of the packages are not supported or may require some kind of a hack to successfully install.
Here is how i resolved failing python package installation due to grpcio error below
Run the following commands
And once I did the above, I was able to successfully install the package that was failing. I figured I could also install grpcio without issues
pip install grpcio
I hope this helped, for further details I found this github thread helpful