Currently the Linux (arm64) installer installs the Windows build of Elastic instead of one for linux arm64.
I figure that this issue stems from ext.elasticZipSetup at the bottom of scripts/elastic.gradle (see here). Property 'linuxBuildArm64' is unhandled, so execution goes to the else block which downloads the windows zip.
Seems like the fix would be to add another else if condition to handle linuxBuildArm64; however, an arm64 build of Elastic is not currently being provided in releases of elastic-dashboard.