Back up Apple Silicon MBP to Intel MBP macOS Time Machine

I recently upgraded to Apple Silicon for personal use, gotta say I'm loving it. Up until now, I've been doing Time Machine backups to an external drive. However, I'm wondering if it's possible to use the old MBP as a Time Machine, hopefully networked, but wired over a TB3/4/5 cable works too. Both laptops are 4TB, but the new one is Apple Silicon, the old one is Intel.