I set up a windows server 2022 VM last night and went nuts stressing pacman/GPGME. I was able to reproduce the issue there:
status = 0x00000000, phi->NumberOfHandles = 8261392, n_handle = 256 [#####----------------------------------] 14% assertion "phi->NumberOfHandles <= n_handle" failed: file "../../.././winsup/cygwin/fhandler_pipe.cc", line 1281, function: void* fhandler_pipe::get_query_hdl_per_process(WCHAR*, OBJECT_NAME_INFORMATION*) So it is not something inherent in the x86_64-on-ARM64 emulation but can happen on native x86_64 also.