Unable to install Parallel Desktop in Mac

Just got my M4 based Mac yesterday. Purchased and installed Parallels Desktop and it had rainbow spinner after product activated. Forced quit after a long time waiting. Relaunched and it came up to the screen to install Windows 11 and before I could do anything it was a rainbow spinner again. Force quit, rebooted and very similar on any launches. I suspect the M4 is too new and not well tested yet. If there are steps, I should try to get the product to behave, let me know.