Migrated my VM from M1 to M4, won't start

Hi all
Just got my new MBP M4 and used migration assistant to move everything. According to the Parallels KB, if you do this and you use iCloud Keychain it should all just work. Unfortunately when I try to start the VM I just get a message 'Unable to start the virtual machine.' There's a 'help' link but it just takes me to the Parallels KB, where I can't find any issue specific to upgrading to an M4 host machine.

I have looked at the VM settings, which have changed to reflect the higher spec of the new machine, but there's no clues as to why it isn't working. I'm on PD v19 and Sequoia 15.1. The VM was working fine on the old M1 MBP this morning.

Can anyone suggest what I should try, please?

Thanks in advance for any ideas.

 

Update - - I have checked that the TPM keychain item has correctly copied using iCloud, and it has. I have tried deleting the System Keychain item for the appropriate UUID from the target machine and manually copying over the one from the source machine, but it still won't start.

 

Oh and I have tried replacing the copied VM with one from backup that I know to be ok, but that does the same as well.

 

I have the same issue migrating from M1Pro to M4Pro. Have submitted to Parallels Support and they have escalated to Level 2. Glad to see I am not the only one!

 

Also see: https://kb.parallels.com/130273/ which identifies as a known issue.

 

Good to know PD20 addresses the issue. Hoping PD development will address for PD19.