Keep in mind that normally you need to join the computer using the same account as the host for the feature to show up. The exception is that this isn't necessary for Team customers using Team Computers.
Your host computer needs at least two displays connected, with the screens set to the "Extend" mode in the OS settings, for the option to show up. You will not see the option if the host screens are set to "Mirrored" or "Duplicate" mode.
You can change the bandwidth, resolution, chroma settings, and frame rates per screen at any time by using the Parsec overlay in that display. That makes it easy to have one screen set up perfectly for your IDE while another is set up for gameplay.