Unable to access microphone and camera after upgrading to 20.4.1

Parallels prompted me to upgrade this evening and after the update I received an error that Parallels cannot access the microphone and camera due to macOS privacy restrictions. I disabled/enabled the toggles in System Preferences but that didn't fix the issue. I used the tccutil utility to reset the privacy permissions and that resulted with Parallels Desktop no longer appearing on the list of apps in the System Preferences and I am still unable to access the Mac's camera or microphone. Help!