Sorry mate was talking about Linux. Got it to install in the end and anyway I live in a +6.5 time zone so no issue with time syncYou need to use the ARM64 preview version from the Insider Preview program. You get a VHDX, which is a preinstalled disk image. Parallels imports it into their disk format, which you can then resize.
You log into the Insider Program and switch to the Developer Preview. The system will update to the latest after that with full x86 and 64 support.
Disable Time Sync or Guests with negative time zone offsets stall.