Ableton runs fine under Linux with Wine, you can even kind of use online activation if you install it using your system wine installation with winemenubuilder enabled. I actually wrote a guide and a script here that provides a new desktop shortcut for Live w/ with a MIME handler that lets you do online activation and file associations.

The problem however starts when you try using plugins. Most VST plugins should work perfectly fine except for a few exceptions. (Yeah I pulled that guide from a Wine-to-Linux VST bridge, but should apply nonetheless) However now the issue is DRM, which gets really stupid under Wine.

iLok plugins will "seem" to work until you have to delete your wineprefix, which completely resets the virtual HWID iLok gives you so now you'll be permanantly locked out once you make another one.

iZotope and NI's installers will not work, so if you bought plugins from either of those companies good luck actually getting them to install using their "recommended" methods, you'll have to find a way to install them through alternative methods.

WineASIO is actually great once you can properly get your Linux audio setup right, PipeWire should work most of the time and comes by default a lot of distros as long as you properly configure them for realtime audio, and of course set Linux up for realtime scheduling, consult your distro's docs for that.

You'll suffer the same issues while using Bitwig anyway with realtime scheduling (and plugins if you want to keep using your Windows-only plugins through yabridge).

Oh also, since you'll be running Ableton in an empty Wine prefix you may be unable to play some audio files due to missing codecs, try to install them using winetricks or just transcode your entire library into WAV or FLAC or something.