Can't open this software Any Ideas or Config Advice?

Trying to play this old video game from childhood. Its only requirements are listed in the screenshot I posted below. Basically a 32mb video card, directX 9 support, and 32 bit color compatible graphics. So my M1 Mac should definitely be able to handle this with parallels I would think. But I can't get it to open. Just keeps spitting this error. Thoughts? or did I waste $20 on a very old video game.