Cannot Install iMovie on macOS Mojave (video card does not meet system requirements)

I just bought Parallels on the AppStore specifically so I could install macOS Mojave and iMovie in order to convert my old *.mov files to *.mp4 since these are incompatible with later versions of macOS and iMovie and there is not out of the box way to convert them in these. Unfortunately, I keep getting the "video card does not meet system requirements" when I try to install the compatible version of iMovie from the AppStore in Mojave... I have tried maxing out the Graphics settings on the VM to no effect... . Pls help!

 

Just spotted this statement from Parallels which could explain the iMovie video card incompatibility in a VM:
"Parallels Desktop does not support 2D or 3D acceleration in OS X/macOS guest operating systems (installed inside the virtual machine) because Apple does not provide an API for creating a video driver with 2D/3D acceleration support."
https://kb.parallels.com/124095

 

I was able to play them using VLC, but I really wanted to update my iMovie projects to future-proof them. I ended up dusting off my old 2008 MacBook Pro w/ Catalina and manually converted all of my old incompatible *.mov files by opening them one by one in QuickTime 7 and saving them to an external HD. For some unknown reason, the resulting Apple ProRes encoded files were better quality than bulk converting them in Finder w/ the same setting.

 

Correction: I used macOS El Capitan