You can enable Secure Boot in Parallels Desktop with the instructions here (note: this DOES NOT work on the Apple M1 version yet, but it’s going to be included in a future update according to Parallels):
If you have Parallels Desktop for Mac Pro or Business Edition, you can enable vTPM with the instructions here (note: this DOES NOT work with Standard Edition of Parallels Desktop):
The rest of the system requirements still apply. I’d advise making sure that GPU acceleration is turned on (it should already be), and you’ll need 4GB of RAM dedicated to your VM, so an ABSOLUTE MINIMUM of 8GB of installed RAM in your Mac (more if you plan on doing heavier multitasking). I tested this in the Microsoft PC Health Check and it reported this message on a 2020 Intel MacBook Air with a Core i3 (lowest-end last Intel MacBook Air that Apple made):
“This PC can run Windows 11”.