New versions of Parallels typically arrive when Apple releases a new version of macOS, usually in the fall. Once a new version gets released, you can download it from the Parallels website.
The professional version does include free upgrades. The former doesn't include free updates to future versions of Parallels Desktop but also has no expiration date. The home version is $80 or $50 for an upgrade, while the professional version is $100 per year. Parallels Desktop 17 is the company's flagship consumer product and is available through a free trial (opens in new tab), regardless of the version you choose. It also works with macOS Big Sur 11.1 or newer, macOS Catalina 10.15.7 or newer, macOS Mojave 10.14.6 or newer, and macOS High Sierra 10.13.6 or newer. Beyond this, Parallels Desktop 17 is also fully compatible and optimized for macOS Monterey.
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