Big Sur + Parallels 16 + Performance Issue w/ CPU usage

I opened up my Parallels after upgrading to Big Sur and it forced an update to Parallels 16, so I am in a trial right now. After doing so, I noticed that my Parallels Windows 10 desktop was running fairly slow/sketchy even though the Windows 10 CPU and RAM aren't hardly being utilized and my Macbook Pro has 16GB RAM and 8 Processors...the Windows 10 machine has 4 CPUs and 8 GBs RAM, which was generally fine before I upgraded to Parallels 16. What I noticed though that appears to be the culprit is that my CPU usage on my Macbook Pro shows Parallels to be using 100-150%+ CPU when Parallels Windows 10 is running - also causes the fans to go crazy. I was hoping that Parallels 16 would be even more performant, not sure why Parallels is chewing up so much CPU on my Macbook Pro ... any thoughts? Thanks in advance.

 

...responding to my original post...and when I reduce to 2 CPUs, my Macbook Pro runs Parallels at 200%+ CPU utilization. I'm struggling here, any help appreciated. Also wondering if I can try our Parallels 15.