Gather all your ingredients to ensure a smooth preparation process.
In a medium mixing bowl, add mayonnaise and egg substitute. Whisk until fully combined and smooth.
Add Parmesan cheese, anchovy paste, and chopped garlic to the mayonnaise mixture. Mix thoroughly.
Add lemon juice, olive oil, and water. Whisk until the dressing reaches desired consistency.
Sprinkle in sugar, pepper, salt, and parsley. Whisk until evenly mixed.
Taste and adjust seasoning if necessary, adding more lemon juice or Parmesan to taste.
Cover and refrigerate for at least 30 minutes before serving to allow flavors to meld.