Same issue - QB wouldn't open. QB support no help. Win 11, Parallels 26.1.2, MBPro M3, latest Tahoe.
Navigated to the Compatability tab. 'Change emulation settings' not shown. Ran Compatability Troubleshooter - useless. Couldn't find QB exe file even in manual mode. QB also prime reason I use Parallels. Any suggestions about 'Change emulation settings' not being shown. Thanks.
This morning I *Was* able to fix this using the posted directions from @CoryL1
Here's how to find the Emulation Settings thing!
Find your QB App in Windows (In my case it resides in "C:\Program Files\Intuit\Quickbooks Enterprise Solutions 24.0\QBWEnterprise.exe")
Right Click and choose Properties
Click the Compatibility Tab
Under the section called "Windows on Arm" click "Change emulation settings"
You will see a pulldown with an arrow that likely says "default"
Click that pulldown and you should see the "Very Strict execution" choice at the bottom of that list
Choose that, hit OK, Then Apply, then reboot!
Hopefully this will work for you!