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We already know Windows 10 on ARM runs well on the Apple M1, but that is using a hacked virtual machine. Recently however Windows emulation company Parallels have started beta testing Parallels Desktop for Mac with Apple M1 chip.
The currently available versions of Parallels Desktop for Mac cannot run virtual machines on Mac with the M1 chip. The new version of Parallels Desktop for Mac that can run on Mac with the M1 chip is however already in active development.
Parallels say they switched Parallels Desktop to universal binary and optimized its virtualization code. The big stumbling block, however, was that Microsoft did not release a boxed version of Windows 10 on ARM, which is normally only release tied to specific hardware.
The good news appears to be that Microsoft did offer a version to Parallels, according to a tweet by Omar Shahine, Vice President of OneDrive.
The software should eventually be delivered to those with a subscription of Parallels Desktop. Those interested in trying out the Technical Preview early can sign up at Parallels here.