Game not launching on Mac M4 / Parallels

I'm trying to run 2042 via Steam / EA on the following system:

• Macbook Pro M4 Max, 32GB RAM
• Parallels Version 7.0.0 (5272), manually set to 20GB RAM and 4 CPUs
• Windows 11

The game installs and on opening, I see "running" in Steam, but it never actually opens the game window, and I don't see 2042 in the Task Manager. After a minute or so, it stops running. 

Thanks