There are a few users on this forum using Quicken thru Parallels on M-Series chip. You don't need to do any restore. Install Quicken on the new computer and take the Quicken Data.QDF file from your old computer and move to the new computer. You then just open that file in Quicken.
Here is a great Parallels forum you can review and ask any questions: https://forum.parallels.com/forums/parallels-desktop-for-m-series-mac.788/