M4 Mac Bug Prevents Virtualization of Older macOS Versions

Owners of Apple's newest Mac models running M4 chips aren't able to run older versions of macOS in a virtual machine due to a mysterious booting issue. The problem occurs when trying to run macOS versions released before macOS 13.4 Ventura on an M4 chip, resulting in a black screen and a boot failure. This issue is not present on M1, M2, or M3-generation Macs.