I would guess no -- that is, no I don't believe it will be seen as new hardware, so long as you are using the same instance of the Virtual Machine...
I've owned a license from every parallels version since it was first released oh so many years ago.
I've used to be fearful of this every time I upgraded my version, but though every upgrade it's been pretty much transparent.
I stated in a seperate post that I believe the hardware Windows detects is based on parameters contained within the VM file itself. While I don't know this to be 100% true, this belief is based off the idea that in all my upgrades for versions Windows has never blinked...
The only time Windows ever tried re-activating itself was after changing a parameter such as the amount of available ram or the number of processors.
I've already tested my ability to to a clean install on a VM with an activated copy of Windows 10. When I first upgraded to Windows 10 I installed over a 32 bit version of Windows 7. I've since downloaded the 64 bit ISO and performed a clean install on the same VM. Once compete Windows 10 successfully activated itself based off my previous activation of that same VM during the upgrade.
Last edited: Aug 31, 2015