If displaycal asks for argyll-cms, do not choose to download.
Instead, select "Browse" and point displaycal to your $HOMEBREW_PREFIX/bin.
displaycal is built for Intel macOS and requires Rosetta 2 on Apple Silicon.
Install Rosetta 2 with softwareupdate --install-rosetta --agree-to-license.
Rosetta 2 is difficult to remove once installed.