Same issue here. Spinning circle next to Welcome message after entering your password. Further details:
(Parallels 12.1.3 (41532))
1.) Appears to be across all profiles including builtin Administrator
2.) After waiting several minutes the 'Handle is invalid' message will be shown, at which point I can try to login again and it then goes through the Hi, Installing updates, We'll be ready soon messages (Although something is broken here as during this it often jumps back to the Hi screen or re-fades in the current message)
3.) After logging in as per step 2 and waiting for the updates, it showed the following error and Edge and the Start Menu would not work.
Location is not available
c:\WINDOWS\system32\config\systemprofile\Desktop is unavailable. .... etc
4.) I've tried uninstalling updates, but none of the updates listed as issues were installed, and after uninstalling all updates that have an uninstall option I still have the issue. (Some updates do not have an uninstall option)
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