[MC-219181] Fabulous graphics crashes on apple M1 hardware

The fabulous graphic settings are causing crashes while looking at the sky in Minecraft 21w10a on apple macOS 11.3 Beta 3. This is written to the Minecraft game logs:
2021-03-12 10:59:49.952 java[81071:18769576] GLDRendererMetal command buffer completion error: Error Domain=MTLCommandBufferErrorDomain Code=1 "Discarded (victim of GPU error/recovery) (IOAF code 5)" UserInfo={NSLocalizedDescription=Discarded (victim of GPU error/recovery) (IOAF code 5)}2021-03-12 10:59:50.145 java[81071:18769576] GLDRendererMetal command buffer completion error: Error Domain=MTLCommandBufferErrorDomain Code=1 "Discarded (victim of GPU error/recovery) (IOAF code 5)" UserInfo={NSLocalizedDescription=Discarded (victim of GPU error/recovery) (IOAF code 5)}2021-03-12 10:59:50.294 java[81071:18768291] GLDRendererMetal command buffer completion error: Error Domain=MTLCommandBufferErrorDomain Code=1 "Discarded (victim of GPU error/recovery) (IOAF code 5)" UserInfo={NSLocalizedDescription=Discarded (victim of GPU error/recovery) (IOAF code 5)}2021-03-12 10:59:50.411 java[81071:18769560] GLDRendererMetal command buffer completion error: Error Domain=MTLCommandBufferErrorDomain Code=1 "Discarded (victim of GPU error/recovery) (IOAF code 5)" UserInfo={NSLocalizedDescription=Discarded (victim of GPU error/recovery) (IOAF code 5)}2021-03-12 10:59:50.937 java[81071:18769561] GLDRendererMetal command buffer completion error: Error Domain=MTLCommandBufferErrorDomain Code=2 "Caused GPU Hang Error (IOAF code 3)" UserInfo={NSLocalizedDescription=Caused GPU Hang Error (IOAF code 3)}2021-03-12 10:59:51.061 java[81071:18769576] GLDRendererMetal command buffer completion error: Error Domain=MTLCommandBufferErrorDomain Code=1 "Discarded (victim of GPU error/recovery) (IOAF code 5)" UserInfo={NSLocalizedDescription=Discarded (victim of GPU error/recovery) (IOAF code 5)}2021-03-12 10:59:51.278 java[81071:18769561] GLDRendererMetal command buffer completion error: Error Domain=MTLCommandBufferErrorDomain Code=1 "Discarded (victim of GPU error/recovery) (IOAF code 5)" UserInfo={NSLocalizedDescription=Discarded (victim of GPU error/recovery) (IOAF code 5)}2021-03-12 10:59:51.428 java[81071:18769576] GLDRendererMetal command buffer completion error: Error Domain=MTLCommandBufferErrorDomain Code=2 "Caused GPU Hang Error (IOAF code 3)" UserInfo={NSLocalizedDescription=Caused GPU Hang Error (IOAF code 3)}2021-03-12 10:59:51.428 java[81071:18769561] GLDRendererMetal command buffer completion error: Error Domain=MTLCommandBufferErrorDomain Code=1 "Discarded (victim of GPU error/recovery) (IOAF code 5)" UserInfo={NSLocalizedDescription=Discarded (victim of GPU error/recovery) (IOAF code 5)}2021-03-12 10:59:51.561 java[81071:18768291] GLDRendererMetal command buffer completion error: Error Domain=MTLCommandBufferErrorDomain Code=1 "Discarded (victim of GPU error/recovery) (IOAF code 5)" UserInfo={NSLocalizedDescription=Discarded (victim of GPU error/recovery) (IOAF code 5)}2021-03-12 10:59:51.561 java[81071:18769576] GLDRendererMetal command buffer completion error: Error Domain=MTLCommandBufferErrorDomain Code=2 "Caused GPU Hang Error (IOAF code 3)" UserInfo={NSLocalizedDescription=Caused GPU Hang Error (IOAF code 3)}2021-03-12 10:59:51.652 java[81071:18769576] GLDRendererMetal command buffer completion error: Error Domain=MTLCommandBufferErrorDomain Code=4 "Ignored (for causing prior/excessive GPU errors) (IOAF code 4)" UserInfo={NSLocalizedDescription=Ignored (for causing prior/excessive GPU errors) (IOAF code 4)}Process crashed with exitcode 6.