Hi guys, I just found a workaround of this issue.
you need to turn off 3D acceleration first, then start Ubuntu 20, opens Chrome fo to "Setting" -> "Advanced" -> turn off "use hardware acceleration when available" under "System" section.
after the relaunch, you can shutoff your vm, turn 3D acceleration back on, and use ubuntu as normal.
I am not expert on this matter so I am not too sure why this hardware acceleration function cause chrome to crash under parallels 16, nor do I aware of any difference when using chrome without hardware acceleration at the moment... just here to share what is working for me