You can't install Windows 10 on Parallels running on an M-series Mac. You must use Windows 11 and if you go to the Parallels store during the setup process it works very smoothly. Checkout this link -- https://kb.parallels.com/en/125375
We were part of a test pilot program for installing Windows 10 on M1. We simply need to upgrade to win 11.
Thank you for posting the install link. It has truly helped.