Sometimes, the Extensions option under the Window tab for Photoshop may not be displayed on Mac machines running on M1 chip even though the panel is installed . The Extensions option can be enabled by performing the below steps.
1. Go to ~/Applications/
2. Find and expand Adobe Photoshop 202X.
3. Right click Adobe Photoshop 202X.app
4. Click on Get Info.
5. Check the Open using Rosetta option. See image for reference.
6. Re-open Adobe Photoshop and check the Window tab to find the Extensions (legacy) option to add the eMAM extension panel.