I read that it works on >= M1 processor. It is at the end of [1] before the footer:
"Final Cut Pro for iPad is available on the App Store. Requires an iPad with Apple M1 chip or later and iPadOS 16.4 or later. Downloading apps requires an Apple ID. To subscribe to Final Cut Pro for iPad you must have an internet connection."
That is currently iPad Pro and iPad Air (10.9" display).