holla
ok...
1) click here :
https://mac.getutm.app/2) on the opened page locate the letters DOWNLOAD , it's a button centered in that page, on the top of it, click that
3) you get a spurious file called UTM.dmg, open it, and drag the UTM app on your application folder
4) launch it, click create new VM (virtual machine, no cloud involved)
5) you want to select "EMULATE" as apple silicon chips are arm64 based, and you wanna run windows xp which only support X86 or X86_64 (if 64 bits) chips. so no virtualisation, but emulation. 32 bits would be just fine.
6) unselect windows 10 +, unselect boot uefi
7) you need a windows xp iso (retail, vl, pro whatever) get a legit one from MSDN or from microsoft (sp 3 probably), take the 32 bit, again it's just fine

you want to emulate i386 (aka x86) or x86_64, 1 core, 1gb of ram, 64gb of drive, standard pc (select the 1996 version)
8 - bis) you can also simply get a pre made template for it :
https://mac.getutm.app/gallery/windows-xp 
, you need various settings to make it like a 2000 era pc, double click it with UTM app being open
9) click play , launch the vm
10) follow windows installation process
enjoy.