Game wants higher version of opengl?

I installed a game (space engine) and it refuses to run, saying my Win7 VM has "obsolete openGL version 2.1". I have enabled 3D acceleration (DirectX10) in the configuration.
It seems that in a real machine, I would go to the site for the graphics card and look for an upgraded driver. It is not clear to me what would be the equivalent for a Parallels VM. The Mac hardware is an AMD Radeon R9 M295X. However, when I downloaded the AMD driver installer inside the VM, it said "No AMD hardware detected". So it appears the VM does not have (full) access to the "real" graphics card.

All suggestions welcome...

 

Thanks for the reply. I set graphics memory to 1,024MB. Nevertheless, when I start the game it shows the following dialog:

You have obsolete openGL version (2.1).
Update your graphics card driver or install compatible hardware.​

On the game page (en.spaceengine.org) under requirements it says,

Video: 1 GB, Nvidia or AMD/ATI
OpenGL 3.3​

In the control panel, the properties of the monitor says "Hardware: on Parallels Display Adapter (WDDM)" From that I infer that the fact of the actual hardware (AMD Radeon) is not reflected into the VM.

 

I downloaded Wine 2.0. Its app db says that SpaceEngine is supported by Wine. I installed SpaceEngine on my Mac using Wine, and when launched under Wine, it again says "obsolete openGL version (2.1)". From this I am beginning to think that the local Mac graphics hardware *is* properly reflected into the VM, and it is the Mac configuration that is deficient. I am not going to pursue this further. Thanks for your attention.