I have only heard of Parade's existence. Simply judging off the title I thought it was lighthearted. Going off this, it is probably a dark depressing one about antisemitism (otherwise there'd be no need to single out how Leo Frank is Jewish in the very short summary which probably only wants to include the important bits). Seems fitting with how antisemitism is on the rise at least partly because of wrongful accusations (specifically "because you are Jewish, you are guilty of agreeing with and supporting everything Israel is doing in their current conflict with Palestine").
Musical Theatre
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There is in fact another show called Parade, a revue of Jerry Herman songs, which I think would be as light-hearted as the title suggests. :-)
I've seen a couple of productions of the JRB Parade (including this revival), with a third coming up next year, and, yeah, it's fairly heavy going. And while the anti-Semitic themes do resonate particularly strongly at the moment, I tend to view the show as being against prejudice of any kind. It's like the old adage says - it's through specificity that you attain universality.