Build fails and an error "BadImageFormatException: Format of the executable (.exe) or library (.dll) is invalid." can be seen when building a project on a macOS M2 device

Reproduction steps:
1. Open the attached "PROJECTFILE" project
2. Build And Run the project (File > Build And Run)

Expected result: Build is completed successfully without any errors
Actual result: Build fails and an error “BadImageFormatException: Format of the executable (.exe) or library (.dll) is invalid.” can be seen

Reproducible with: 2021.3.29f1

Reproducible on: macOS 13.5 (M2)
Not reproducible on: macOS Ventura 13.6 (M1 Max)