Hi Susan!
Welcome to planDisney.
Your question gives me a lot of joy! Not least because Disney's Wilderness Lodge is my favourite Resort hotel at Walt Disney World Resort, and
Storybook Dining at Artist Point with Snow White is one of my must-do character dining experiences. You'll be seated in an enchanted forest setting, visited by Snow White, Grumpy and Dopey while you dine, and be invited for a photo with the Evil Queen (who is secretly pleased to see you, but you'd never guess by the look on her face!).
I would love to say that you have enough time to enjoy the Festival of Fantasy Parade and make it on time for your meal. However, I think it will be very tight. Let's talk it through - (
here's a map of Magic Kingdom Park for reference). The best place to stand for a good view, and a quick getaway would be at the end of the parade at Town Square, just after you walk under the Walt Disney World Railroad at the entrance to the park. The parade reaches there at about 3.25 pm and lasts around 12 minutes. You'd need to exit the park straight away and head for the Resort boat launch for Disney's Wilderness Lodge. IF a boat is waiting for you, it's around an 8-minute ride, with a few minutes walk to the restaurant. You could do it. If there's no boat already waiting, I don't think you have enough time.
Probably the only way you can comfortably do both on the same day is by checking the Tip Board for Magic Kingdom Park (on My Disney Experience app) because the parade sometimes has two show times 12.00 pm and 3.00 pm. You could watch it with ease at noon, knowing that you don't have to rush away afterwards. Otherwise, perhaps modify the time of your dining reservation. I know this is a challenge because it's such a popular event, but please keep trying. Guests make amendments to their dining reservations all the time, even cancelling on the day, or the day before.
I hope you can work it out because they are both events that you don't want to miss!
Please come back and visit us if you have any other questions, or you can
send me a direct question if you wish. We will be happy to help you plan your magical vacation.
Sue