Parsec uses 8 bits per pixel YUV pixel format and Rec 709 color space for it's streaming protocol.
Parsec will capture the screen from your Windows machine (in an RGB pixel format).
Parsec will then convert your host screen (which is in RGB) to Rec 709 YUV and encode it into video.
When the video (which contains the hosts screen) gets to the Parsec client, the video will be then converted from 8bpp Rec 709 YUV to an 8bpp RGB pixel format suitable for your client's display .
To ensure you get the most accurate representation of color to the Parsec client you should do the following;
On the host you should disable Windows Color Management while you are working remotely, and restart the creative applications you are using to ensure they are no longer attempting to use that color profile.
On the host, you should set your file color space to Rec 709 or sRGB.
On the client, you should calibrate your monitor to Rec 709 or sRGB - if your monitor color space is greater (or different) than these color spaces, your OS may stretch the Parsec clients color space to the color space of the display. This means colors could appear incorrectly (such as too saturated if you have a wide color gamut client monitor).