After downloading the released version of Parallels, I was checking my Windows on ARM to see if it still worked before buying a license. Windows 21376.1 install failed with 0xc1900101. I tried resetting Windows and got the same result
I have the same issue. Glad I am not the only one. I had the issue with a previous build, and it fixed itself after a while.
Try disabling Shared profile in VM configuration / Sharing, then running Windows Update. If that does not help, also try to uninstall and reinstall Parallels Tools.
I reinstalled Parallels Tools when I reset my windows install. The update worked today without any action required.
FYI Stanislav, it wasn't necessary to disable Sharing, or even restart the Mac. The problem resolved it self spontaneously.