Hi James, 

Welcome to the Box Community, I'm happy to help!

I've checked the configuration you mentioned, and it appears Box Drive is not compatible within Parallels. 
 
As the device you are using in your configuration is considered an ARM based system, I'm afraid the behavior you are experiencing is expected as Box Drive is not supported on ARM based system with Windows as outlined within our support article: Windows Specific Known Issues for Box Drive

If this is something you would like to be able to supported, I would highly recommend submitting this as a feature request at pulse.box.com! Our product managers review these requests and take them into consideration for future product development.

All the Best,