We're sorry about the trouble while trying to launch Photoshop on your M1 Mac. Would you mind telling us which version of Photoshop are you using? Are you getting an error while trying to launch Photoshop or nothing happens when you try to open the app? Have you tried to re-install the app to check if that helps?
If you're using the latest version of Photoshop, please ensure that it has the required permissions on your Mac by following the steps mentioned below:
1. Go to the System Preferences for your Mac, then Security and Privacy, then select the Privacy tab.
2. Then select Accessibility from the list to the left & check if Photoshop is added to the list with a check mark in front of it.
3. If Photoshop is not a part of the list, please add it by unlocking the window first using the lock at the bottom left, then clicking the + icon & navigating to the Applications folder.
4. Also, grant permissions to Photoshop under Full disk access located in the same list as Accessibility.
5. Once done, restart the Mac & check if it helps.