There are common raid setups
eg Raid 4 and Raid 5 has parity

Standard RAID levels - Wikipedia
https://en.wikipedia.org/wiki/Standard_RAID_levels


This is how to, in Windows 10:
Example 1: using 8 drives, 1 of which is used as parity redundancy, thus 7 drive space for data (I do not know if raid 4 or raid 5 is used here)
Example 2: using 8 drives, 2 of which is used as parity redundancy, thus 6 drive space for data (I do not know if raid 6 is used here)


Control Panel -> Storage Space
Click on "Create a new pool and storage space". However, you are to create the pool only with 8 drives, eg use the name "JOHN_POOL". Do not create the storage space here. Instead, close the previous window GUI, and open PowerShell in Administrator mode.

Then use this command for example 1:
Code:
New-VirtualDisk -StoragePoolFriendlyName "JOHN_POOL" -FriendlyName "SMITH_LARGER" -UseMaximumSize -ProvisioningType Fixed -ResiliencySettingName "Parity" -PhysicalDiskRedundancy 1
SMITH_LARGER is the name of the newly created Virtual Disk or Storage Space
JOHN_POOL is the name of the Pool that it was created in.

Or use this command for example 2:
Code:
New-VirtualDisk -StoragePoolFriendlyName "JOHN_POOL" -FriendlyName "SMITH_SAFER" -UseMaximumSize -ProvisioningType Fixed -ResiliencySettingName "Parity" -PhysicalDiskRedundancy 2
SMITH_SAFER is the name of the newly created Virtual Disk or Storage Space
JOHN_POOL is the name of the Pool that it was created in.

Restart. Open back Storage Spaces to Check. View Pool in Storage Spaces GUI. Close back Storage Space.

I formatted from Control Panel -> Administrative Tools -> Computer Management -> Storage -> Disk Management
Format as NTFS, and assign drive letter. Close. Restart

Performance in Read is crazy high ~388 MB/s for first example, ~320 MB/s for second example, but Write is low ~30 MB/s

Unfortunately, I have no experience in restoring a failed raid, and Windows is sometimes Annoying, just hope a restore will work when I need it.

Thoughts: In raid parity setup, for first example, 7 data blocks then 1 parity block were created on 8 disks. Thus 1 disk failure tolerance.
In second example, 6 data blocks then 2 parity blocks may have been created on 8 disks. Possible 2 disk failure tolerance, if Raid 6 configuration was used, and both parity blocks are not identical, but are independent Syndromes. I have not come across a windows document on how this is implemented in Storage Spaces.