TWS is a programmers Cluster-F*&^. It's very poorly written app. It looks like the charting function is not global and every chart that's being drawn are done differently.
As for the original topic, M1 could possibly have a JVM core that Mac may be able to use which will boost the $hitty TWS tremendously. This would be great if the M1 chip had a JVM Core because this would reduce the GC as all of the JVM maintenance is offloaded to the chip.
IMHO -- TWS needs to be completely rewritten from scratch and not one part of the old code should be used. It makes no difference if the Java is selected as the new replacement. The app is more than 10 years old which places it beyond the life of a dinosaur.
edit: to be honest TWS should migrate all this to Scala.
https://www.scala-lang.org/