Switch to M1 Computer -> Need OS X 10.4.6 VM Support

I can't upgrade an important piece of software that we rely on as it was never made to support OS X beyond version 10.4.6.
I've just invested in a whole bunch of new M1 powered machines and suddenly find my VM is useless it isn't supported.
Is that really the case or is there a workaround or some future function that might allow me to keep working without spending £1000s on transferring years of important data?

 

I guess you could always get a non-M1 Mac Mini as well for longevity. Use it as sort of a server or what-not, then you'd be able to access the data via the local network. Unfortunately, IDK how to setup Parallels to do such a thing, so you'd have to look that up.