Transferring from Intel to M3 Mac

I have Parallels running on an Intel Mac. I use one program, SolidWorks on Windows 10. It is starting to run very slowly so I have considered transferring to my M3 MacBook Pro. I understand I can just transfer the license to this new computer but do I need to purchase a new ARM Windows? I understand ARM Windows wasn't very good early on, have those issues been fixed? If I do this can I migrate my program between virtual machines or do I need to load my SolidWorks program again from the disks (about 10 years old). Any help here as to what to expect would be appreciated.

 

I was able to upgrade my Windows 10 license to a Windows 11 license early on. I am not sure if Microsoft still offers that free option or not. My Windows 11 license I was able to transfer to Windows 11 ARM in Parallels.

I have been surprised at how seamless Windows ARM runs. I think with Surface Pro and the push for Windows ARM, and the popularity of Snapdragon that Microsoft has made an effort to support running on ARM chips. It runs native and hybrid programs (obviously) and supports 64 and 32 bit Intel/AMD programs as well.