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I had the same; deleted the VM, tried again and it worked fine that time...
Weirdly, the issue is backache next day, and the option is still off :(. Shutting down and restarting the VM fixed it for now...
See https://forum.parallels.com/threads/display-does-not-to-refresh.351915/#post-878806: turn of Time Sync (I know, right? weird).
That did the trick, thanx! who would have thunk, something seemingly so unrelated... Thanx!
I had that too, the first time around. would just cycle thru this again and again. I killed and deleted the vm image, started fresh, second time...
I'm seeing the same.
Hi. I installed the Parallels M1 preview and Windows/ARM following the (trivial) steps on https://my.parallels.com/desktop/beta. Windows boots up...