Upgrade from Parallels 16 Subscription to standard with no upgrades?

Is it possible to upgrade from an old Parallels Desktop 16 subscription to 17 but as an upgrade to a standard license with no free upgrades or do I need to purchase a full license again?

 

If you have the subscription. - yes.

From here: https://www.parallels.com/products/desktop/whats-new/

Already have a subscription? Download free upgrade

 

My subscription expired as I now want a one off cost rather than paying each year

 

It's rather strange, because Parallels for M1 was released only several months ago.