It is my suspicion that the .exe installer is a blob that has been compiled for amd64/x86 64-bit processors. Your ARM processor requires the binary to be compiled for aarch64. I do not know if current Matlab build releases support this. The probably will in a revision or two due to pressure from fortcoming Apple Silicon (ARM) Mac devices.
Edit: it looks like neither Matlab nor GNU Octave will work on your device for the time being. for now you might have to do the work in something like Python if that device is your only option.