Sorry to destroy your hopes, but that is not possible. You can't use an Intel VM on an M1 (ARM) Mac. You will need to clean install Windows 11 ARM on your new Mac.
Unfortunately Microsoft doesn't offer that version of Windows as a download. There are two ways to install Windows, though.
1) Join the Microsoft Insider Program and download a Dev Channel build from there. Previously that used to be the only option. The downside is that Dev Channel builds can be unstable and there's usually no way to move to more stable builds.
2j Go to uupdump.net and build your own iso to install. It's a bit more complicated, but you can find a good guide
here. With this method you can install the latest official release build. To do that, first click on the Windows 11 21H2 button directly under the search field. In the list of files, you want one of the files for the arm64 architecture. Currently the file you want is called "Upgrade to Windows 11 (22000.258) arm64". After choosing that file, you can configure options (language, edition) and than download some files. From there follow the instructions from step 6-10 in the guide. You can also build the iso on Mac or Linux, but apparently that can be trickier so do it in your current Windows VM and copy the created iso file to the new Mac to create your Windows 11 VM. You don't need to create the bootable USB drive mentioned in the article. The iso file is enough to create a VM.
So, yeah, Microsoft doesn't make it easy to use Windows on an M1 Mac. You can use a Windows Pro key to activate Windows, though. No need (or even option) to buy a key specifically for Windows ARM. (Possibly a Home key will work too if you build an iso for Home.)
If you want to move data from you old Intel VM to the new M1 VM, Parallels has instructions
here.
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