I stumbled upon this older thread, but I can confirm that this issue with the Encompass 360 SmartClient exists for all Windows on Arm installations and is not specific to running on Parallels. The Encompass Document Converter depends on an x86-64 printer driver and will not run on Windows on Arm. You can log in to the SmartClient, but it will attempt to install the Encompass eFolder Printer each time you do, and you'll need to either stop it manually or wait for it to time out and then click through several error messages prior to logging in. That is frustrating, but the good news is that the SmartClient will work normally other than being unable to use the Encompass eFolder Printer.