M1 devices get High profile (detail), not Ultra. Resolution setting is not the same thing.
This will almost certainly be sorted on the next update, since right now you’re on Basic profile and 1440p resolution which isn’t a combination that’s meant to exist. I suspect they accidentally removed M1 from the list of High devices prior to the last update, then when it was flagged up by people on here, they’ve only added back the resolution choice rather than doing it properly.