Preheat your air fryer to 400°F for 3 minutes.
Lightly brush asparagus spears with olive oil and season with black pepper.
Take one half-slice of prosciutto and wrap it around the center of each asparagus spear in a spiral, leaving the tips exposed.
Place wrapped asparagus in a single layer in the air fryer basket, working in batches if needed to avoid overcrowding.
Air fry for 7-8 minutes until the prosciutto is crispy and asparagus is tender-crisp.
Transfer to a serving platter, drizzle with balsamic glaze, and sprinkle with Parmesan cheese. Serve immediately while warm.