No, a parsec is not a unit of time. A parsec (abbreviated as pc) is actually a unit of distance used in astronomy to measure large distances on cosmic scales. It is a derived unit that stands for "parallax of one arcsecond," and it is defined based on the phenomenon of parallax.
Parallax is the apparent shift in the position of an object when observed from different locations. In astronomy, astronomers use parallax to measure the distance to nearby stars. A parsec is defined as the distance at which an object would have a parallax angle of one arcsecond when viewed from opposite points of Earth's orbit around the Sun.
In simpler terms, a parsec is roughly equal to 3.26 light-years or about 30.9 trillion kilometers (19.2 trillion miles). It is a unit of length or distance, not time.