Hi,
Both. I have a Macbook Pro (Intel) from 2019 and an iMac (M1 chip) from 2021.
No matter if I connect from the Macbook to the iMac or the other way around it only works if I am logged in on the target computer.
If I am not logged in on the target computer, the connection including login/password seems to work, but the NoMachine window remains black or sometimes white.