There are no differences in features between the two versions, of course. That said, Microsoft also offers downloads for x86-64 and Arm64 versions specifically, if desired.
Further Reading Apple’s M1 MacBook Air has that Apple Silicon magicThe change came in Visual Studio Code 1.54 (now 1.54.1, thanks to a bug fix update), which is available as a universal 64-bit binary, as is standard for apps with Apple Silicon support.