the way I understand the Security aspect of the compatibility of processors is the Spectre/ Meltdown group of malware, originally Microsoft used a piece of temporary coding to correct the faults in the Processor code, this was inefficient and slowed down the OS but did protect the OS Users. Intel and AMD both changed the architecture of their processors to make the malware useless, this happened with the final release of Gen 7 Processors and all of the Gen8 and later Processors (AMD was done by the 2nd Gen Rysen).
Windows 11 has been designed to rely on the code in the later architecture to protect from this group of malware rather than the emergency code used in Windows 10.
This means that apart from the later processors classed as Compatible with Windows 11, running Windows 11 on the older Processors would leave systems open to attack by the Spectre group of Malware. Now I'm certain that by now the better Anti Malware products will give some protection but some risk will still be present as the fault is still present at the processor level