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With PD15, Big Sur guest can install from installation media, but as soon as installing Parallels Tools, it won't boot.
After Installing the...
>' BIErrorDomain error 3
It's been mentioned higher up, but these instructions worked for me on a macOS guest:...
Also getting "BIErrorDomain error 3" when trying to upgrade to the Big Sur beta.
Tech report 343260197 filed. Hopefully it's useful.