Windows 10 on ARM64 Insider Preview has been deprecated and the scenario you describe is not officially supported by Microsoft.
"With Windows 11 on ARM Insider Preview builds, you can create 64-bit ARM (ARM64) VMs in Hyper-V on Windows 11 ARM-based PCs. Creating ARM64 VMs is not supported on x64 hardware.
ARM64 VMs are only supported on devices that meet the pre-requisites:
- Windows 11 ARM-based PCs with a Microsoft SQ1, Microsoft SQ2, Qualcomm Snapdragon 8cx, or Qualcomm Snapdragon 850 processor."
For further help, please visit Parallels Forum.