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The issue is when I press play on stream, I've the laucnher screen (and I can access every parameters) but when I click play, a new window opens, music starts to play, sometimes it is just plain black, sometimes it shows a EU4 image but it always crashes in the 2-3 seconds.

Is there anything I could do to play it?
 
Strictly speaking the M1/M2 Macs are not supported hardware for this game, or indeed any of our games. However the games do generally run.

Are you on the latest MacOS version for it?

And what happens if you run eu4.app directly?