I prefer the VMWare Fusion 13 for Windows 11. Switched after Parallels wanted to charge me again after the first year.
I have heard not great things regarding VMWare Fusion 13 in general.
For what is worth, I had limited success (i1Pro2 drivers being incompatible with ARM arch, but might not impact you) running ColorSpace on M1 via Parallels.
You can get Parallels via 1 time purchase for $129.99 to avoid subscriptions. I still run Parallels 17 on my Mojave. It supports limited number of cores, but it was superfast anyhow with ColorSpace. They have a trial you can use to see if everything working for you.