High CPU usage with "Hide Menu Icons"

Hi everyone,

I'm quite enjoying Parallels Toolbox as well as Parallels itself however, I have noticed one strange issue with "Hide Menu Icons".

Ideally, I would like to keep this extension as it's quite nice to have and cleans up my top-bar without having to install another 3rd party app (e.g. Bartender, Dozer).

Steps to replicate:
To replicate this issue, all you have to do is activate the "Hide Menu Icons" utility from your Parallels Toolbox and just have it running. Fire up Activity Monitor and it it will be one of the main processes using the most CPU.

In some cases, the CPU usage will come back down and looks like all is well. However, if you interact with it, the CPU usage will immediately fire back up. In some cases, you might not even be interacting with it. This makes it a little hard to narrow down what exactly is causing the issue. To help assist with this, I've provided some screenshots of what my tray looks like and the current CPU usage when you click on the "expand" button.

Figure 1. My Menu Bar (minimal with little to no moving parts)


Figure 2. Activity Monitor snapshot after clicking on the button to expand/collapse items.​

Some what related (kernel_task)
I also noticed that the "kernel_task" process is using a lot of CPU as well. In saying this, I haven't done a lot of testing in this regard. I'm still learning the underlying core-utils of macOS so if you require any system information regarding the "kernel_task" process, please let me know.

Blank Portion (unrelated)
Thought I'd throw this in here, I also noticed that the "Hide Menu Icons" setting creates an empty section in the tray. Not sure why it does this because it can be a little annoying to see an extra space than necessary. Of course, I can move it to the end of the dock but thought I'd point it out.

System Specs:
Mac Mini (Apple M1) + 16GB RAM + 256GB Storage (onboard)
macOS Monterey 12.0.1

If you require more information or have any thoughts, please let me know.

Cheers,
Berk