Here's a little more about applying PWM to an Array 3723A load.
A 10kHz square wave was generated by a beefy LIPO 4S battery pack (approx. 16V) put through a MOSFET switch.
Here is the load in 10A mode. Blue is current, red is voltage across the load. Until it settles at 10A, it's unreasonably high at almost 65A.
Here is the load in 1R mode. For whatever reason, it settles much faster and with much less of a current spike. There's an odd spike in voltage above the idle battery voltage indicating some inductance inside the load.
Just for comparison, here is the same plot but with the load disabled. The PWM generator was manually triggered. There's some current being drawn in the beginning due to a capacitor inside the load on the input and likewise, the voltage does not return to 0V because the capacitor is holding it up.
So, I think in resistance mode, this load could be usable at 20kHz as long as you know what to expect out of it. Because it overshoots, it's certainly going to stress your circuit for testing.
You'll have to be the judge. Maybe it's worth a try. No idea on the parallel requirement, though. I only have one.
Edit: Fixed model number.