I can't give you complete instructions, but it's pretty straightforward, and Parallels should enable you to get a version of Windows 11 for ARM, which I did more than a year ago when I bought a new iMac. I was transitioning from VMware Fusion on a MacBook Pro, so my approach was to set up the new VM as a completely new computer.
I'm not sure what the approved way to do things is, but you could simply copy the whole folder C:\My Paratext 9 Projects onto a flash drive and then onto the new VM. The subfolder _WindowCollections contains your layouts, so you could just copy that folder if needed. If you have a decent Internet connection, then downloading all your projects and resources will be simple enough.
John