While the release of Sitecore 10 offered much more personalization options with Sitecore XM, it lacked the capability to leverage the Sitecore Geolocation Service.
However, starting with Sitecore 10.1, you can now use the Sitecore Geolocation Service in Sitecore XM! This is an exciting development for those who need some level of personalization and geo lookups while not extending to the full stack of XP/xConnect. It also prepares those who are excited about the upcoming Sitecore SaaS/Composable DXP architecture to leverage a strong base platform before extending with best of breed solutions such as Sitecore CDP.
Details about the Sitecore Geolocation Service options for Sitecore XM in Version 10.1 can be found at: https://doc.sitecore.com/en/users/101/sitecore-experience-platform/the-personalization-conditions.html#UUID-d73ca94f-fd2e-50f1-d700-a9ef7adc6bd9_id__IP_Geolocation
Please note that Geolocation is disabled by default in XM, so you will need to configure it per the following which requires both subscribing to the service and other aspects such as setting the GeoIp.PerformLookup property to true in the CD servers (\App_Config\Sitecore\ DetectionServices.Location\ Sitecore.CES.GeoIp.config). There are a few other considerations for firewalls and proxies as well: https://doc.sitecore.com/en/developers/101/sitecore-experience-manager/set-up-sitecore-ip-geolocation.html