Apple has released an update to FCPX on 4th March 2021. This version called as 10.5.2 is optimized for Apple Silicon which apple launched earlier in the Macbook Air, Macbook Pro and Mac Mini. There are some routine bug fixes as well. The following are the release notes.
New in Final Cut Pro 10.5.2
Adds support for a new Universal RED plugin enabling native RED RAW decoding and playback on both Apple silicon and Intel-based Mac computers.
Improves stability when playing back H.264 video files with corrupt data.
Fixes an issue in which text could disappear when double clicking a value field in the inspector.
Fixes an issue in which FCPXML files created from drop frame projects would import as non drop frame.
Fixes an issue that may prevent custom Motion titles stored inside the library from appearing in the Titles browser.
Improves stability when choosing the DPP/Editorial Services metadata view with MXF media.
Improves stability when using AirPlay with Final Cut Pro on a Mac computer with Apple silicon.

As usual it is important to note that if you are in between editing big projects then it is better to wait before we hear of any bug fixes.