Parallels Client for Windows has been rebuilt and optimized to natively run on machines that are powered by ARM64 processors which were created to be more lightweight and power efficient.
You can download it here.
Documentation and References
- Parallels client guide: https://download.parallels.com/ras/v19/docs/en_US/Parallels-Client-for-Windows-19-User-Guide.pdf
- Windows ARM-based PCs FAQ: https://support.microsoft.com/en-us/windows/windows-arm based-pcs-faq-477f51df-2e3b-f68f-31b0-06f5e4f8ebb5
- Windows on ARM: https://docs.microsoft.com/en-us/windows/uwp/porting/apps-on-arm