To put your fears somewhat at rest, this is would not be the 1st boat, Parker or not, with a cut-out transom that did this. Remember that that edge is a stress point and gelcoat is significantly harder in tensile strength than the substrate.
Meaning, the substrate is stronger in that it is multi-layered and multi-composite, so it has strength and durability. Gelcoat is fragile in that it can’t bend or flex the way the hull layup can … thus causing the crack.
TEST:
First thing you should do is sound the hull and also remove ANY bolt or hardware you can from the stern to see, check, verify just how wet, dry, or sound the rest of the transom is. Then have a friend 'jostle' the motor up and down (while part way trimmed up) while you look at the transom from the side. You shouldn’t see any flexing of the transom. If all appears sound, fix the crack.
I would use some form of pick to make sure it’s dry down there and would setup a hair dryer or other to dry out that area before you attempt to repair it.
FIX:
Though not pretty as gelcoat, Marine-Tex might be your best here. You could also consider adding an aluminum channel (like an upside-down “U”) top cap over this area, more for looks than function. Many cut-out transom boats come with this installed for this very reason. Leaving it open will show you if the crack grows, but the M-Tex epoxy won’t match the gelcoat and it’s an absolute bitch to gelcoat over M-Tex … don’t ask me how I know.