About Mac parallels virtual machine

I got a 2020 m1 16 GB RAM MacBook Air, does it support parallels windows?

1. If so, is it performance well? Like, any lagging, crash, slow operation issues?

2. Does it any damage to Mac itself running virtual windows?

Because I have to use trados CAT tools,it cannot work directly on Mac system.

And I bought another HUAWEI laptop for translation/regular office purpose.

I mean, if virtual windows running well, I will return my newly bought HUAWEI laptop, otherwise my Mac seems to be redundant, useless,

because mostly I spend on trados translation work.

So, your advise would be highly anticipated and appreciated on this!