Hmm... hard to say. M1 already supports ARMv8.4, so it should be there. Could Apple be foolish enough to break this? The GPU instruction set is usually hand in hand with the micro architecture of the CPU and the driver + API provide the option to run code on the GPU.
I think (not 100% sure) this functionality came with ARMv8.1 back in 2014 (hence the Metal atomics are a subset of C++14), so if it's not there in GPU hardware on M1 today I'd bet either there is a technical limitation they don't offer it or it's the old "do it the Apple way" and they're not interested in it. I can't believe they didn't think about it when they started designing the SoCs. As for M2, I don't think that's going to happen, M3 seems more likely (if it happens at all).
That being said, I don't see why Epic couldn't do this in software. And I don't see why Apple couldn't add a workaround in LLVM either. Sure, with some overhead but nothing that would be a deal killer (when thinking about this for a second). The question is the same old, why bother for a really small fraction of the market? Apple might not care and Epic can use it out of the box on the "relevant" hardware the target market is using.