After Effects Compatibility with M1 Pro processors

Yes, recommend the M1, M1 Pro, or M1 Max.

In general, running Adobe software on Apple silicon under macOS is just like running it with Intel under macOS or with Intel/Ryzen under Windows.  That is, you have to match the version of Adobe software and any third party filters/plug-ins/add-ons/extensions with the version of the OS.  A year ago, a main consideration was whether or not the application would under Rosetta or not.  There was a short list of Adobe applications that would not run at all, but that's recently changed.  Specific to After Effects, you'd want to run After Effects 2020 or newer with macOS Big Sur 11.4 or newer.

Can I run my Adobe apps on Apple computers that use the Apple Silicon M1 chip?

This page needs to be updated to include Adobe Dimension and Adobe Stager that until very recently did not run using Rosetta.  It should also indicate that the video import/export features of Photoshop still require using Rosetta (this should change eventually).

Third party filters and plug-ins may require using Rosetta even though the Adobe application runs under Apple silicon.  Autokroma has a great article that's specific to their products, but does a good job of explaining the issues/considerations: Apple Silicon (M1) Plugins Compatibility with Adobe Creative Cloud and Autokroma products | Autokroma Plugins for Adobe After & Premiere (AfterCodecs, BRAW Studio, PlumePack, Influx and Vizual)

I have been doing a lot of work testing a bottom-of-the-line M1 Mac Mini and it is working amazingly well for almost all projects. 4K source footage slows it down. The current Beta version of AE is universal (M1 compatible) but almost all of my 3rd party effects are not yet so you have to force AE to run in Rosetta to use them. 

The wisdom of going with the M1 chip depends on the kind of work you will be doing and the timeline. If you are doing complex VFX for feature films and need to deliver in days, then it's probably not a good idea. If you can deal with the delays that testing, workarounds, and efficiently working with beta versions, then an M1 Mac may be a very good option. I can tell you that the already compatible Premiere Pro, Audition, and other Adobe Apps are amazing, stable, and my preferred tools for all my work even on the tiny M1 Mac I am testing. Can't wait to get my hands on a new loaded MacBook Pro. The M1 technology is potentially a huge game-changer.

Currently this is simply a black hole and the issue is not really Rosetta but Adobe using specific stuff that the emulation can't handle. That's pretty much true for any of their programs. So if there is no urgency, it would be smart to put this off another few months until both Apple and Adobe have issued even more updates that may fix these issues. Otherwise it's mostly a matter of keeping your fingers crossed and hoping for the best, I suppose. Not a mac guy, just observing what's going on here on these forums, so feel free to wait for other opinions.

Mylenium