Why do I see a “Support Ending for Intel-based Apps” message when installing the Wolfram app on Apple silicon?

The Wolfram app, used by Mathematica, Wolfram|One, Wolfram Finance Platform and Wolfram|Alpha Notebook Edition, is a universal macOS application. It includes native Apple silicon support for Macs with M-series processors, as well as Intel-specific libraries for older Intel-based Macs.