According to ESRB, this game contains: Blood, Violence
Parents shouldn't have much of a problem with Morrowind. Although it is adult in subject matter and complexity, it never really rises above a PG-13 level of intensity (although I wouldnt recommend the game for very young children.)
Fans of the Elder Scrolls series will probably like Morrowind. It improves on its predecessors in every way and interjects a lot more personality into the look as well as the mechanics of the series.
Fans of RPGs in general should probably check it out, although it is so open-ended the lack of strong narrative direction might turn some players off.
Fans of online RPGs might want to take a look since Morrowind's size gives it much of the same ambiance of an MMORPG though without the human interaction.
People who are interested in videogames that create virtual worlds might want to pass on Morrowind. Superficially it looks impressive, but the rules that govern it are too awkward to maintain a sense of immersion that can compare with the better examples of world-sims on the market.