Ginger Audio has released a virtual audio driver for Mac OS X with control room monitoring options.
The audio drivers allow applications to pass audio to other applications in 3 configurations (2 channels, 16 channels, or 64 channels).
You can monitor the driver’s output through your computer’s internal speakers or headphone output with the accompanying control room app, which has controls for the volume, in/out meters and a peak meter, and dim, mute and mono.
GroundControl is free to download. It supports M1 and Big Sur, with up to 192khz with zero latency.
More information: Ginger Audio