I wrote kind of a tutorial in the How to support... thread.
Parallels has automatic installation option including Windows ISO download which should be easy.
I chose manual installation option for reasons mentioned in ARM support thread.
It seems I had luck with acquiring a perpetual license for Parallels Desktop 20 Pro Edition: This isn't offered on the Parallels website, and is no longer available from the selected retailer.
I want to install only native software in the virtual machine, as well as on the macOS host system, so I would wait for native ARM version of DO.
But if you need it, emulation seems to work well in many cases.
Regards
Guido
JPEG developer