The Everest Panorama Trek is a shorter version of the Everest Base Camp Trek so it has similar difficulties of weather and trails. However, cutting the time in half, the short trek is comparatively easier. But still, you should consider getting proper knowledge about the route along with the best time for the trek so you do not face any difficulties.
The summer and monsoon season has a lot of heavy rainfall, so this may pose as a major difficulty for the trek. Also there are steep climbs so physical preparation is also required. Another difficulty you may face in these high altitude treks is that of altitude sickness. So take proper precautions and learn about the place more before embarking the journey.