In a medium skillet over medium heat, melt butter. Add the cubed butternut squash and diced shallots. Cook, stirring occasionally, until tender, about 6-8 minutes.
Add garlic. Cook for 1 more minute.
Add the Arborio rice and salt to the skillet, stirring to coat the rice with the butter and vegetables. Cook for 1 minute, or until the rice is lightly toasted.
Pour in the wine and reduce the heat to a simmer. Cook, stirring occasionally, until most of the wine has been absorbed by the rice, about 2-3 minutes.
Begin adding the hot chicken broth, ½ cup at a time, stirring constantly. Wait until the liquid is mostly absorbed before adding the next ½ cup. Continue this process until all of the broth has been absorbed and the risotto is tender, but still slightly firm to the bite (al dente) and creamy, 30-35 minutes.
Add heavy cream and parmesan, stirring until melted and heated through.
Remove from heat. Garnish with freshly chopped parsley and more Parmesan cheese, if desired. Serve immediately.