I have Parallels Version 16.1.2 (49151) running. When I start my MacBook Pro sound is working. Starting the VM sound is working too. As soon as run for instance Outlook 2019 the sound is gone and I can't get i back by closing Outlook or anything else. I have to restart Windows to make it work again. Also the buttons for sound control F10, F11 and F12 as well as the ones for brightness F1 and F2 don't work at all or only with delay. Switching back to MAC OS shows the the sound is not working either. As soon as I close the VM everything is working fine again. I'm pretty much sure it must be a bug in Parallels.
I have the same issue and I'm so excited to see this post. Will definitely try the same later. Thanks for the post.
