The phrase “parse out your excitement” means to carefully examine, analyze, or break down your excitement into its components. It suggests taking a closer look at why you’re excited, identifying specific reasons, and possibly organizing or articulating those feelings more clearly.
For example, if someone tells you to “parse out your excitement” about a new job, they might be asking you to explain what exactly excites you—whether it’s the salary, the work itself, the people, or something else.