Hello,
please create a backup of "C:\Program Files\Common Files\InstallShield" folder, remove the folder and try to install the software. Restore the folder from backup if you encounter any problems after that.
If it will not help please try to install Parallels Tools from the Safe mode (push F8 while loading the VM).
Then please provide me with a screenshot of the Windows 'Device Manager'.
Best regards,
Stacey