Why not? I have USB attached BD drive, which works fine with Parallels. Why wouldn't it work with SATA drives?
I think (not being facetious here) you answered your own question. SATA connection is not the same as USB. Parallels can handle USB with most external drives. Only time where direct SATA access is of importance is if you have a Mac Pro and that is another story unto itself to get that working.
Fusion can handle the internal SATA unused ports on the Mac Pro motherboard.
Parallels doesn't see them at all. I have gone through this myself.
If you are using a Mac Mini or iMac, your only choices are external Blu Ray units "as is" via USB. I happen to prefer Fusion for this purpose as throughput seems a bit better and less quirky. Others may disagree.
Just be aware, that some blu ray units don't work properly or are flakey and others are good performers. If anything do NOT pay extra for "blu ray for Mac" promoted items. Often they are rebranded regular units with a higher price and, as being OEM of sorts, often are not firmware upgradeable.
- Phrehdd