Missing settings icon

UserF183

Bit poster
I'm running Parallels Desktop Pro v18 on a M1 MacBook Pro.

In the control center, I don't see the gear icon to access the settings. How do I access the settings for a VM? The VM in question here is Mac OS 12. Ultimately I want to increase disk space for the VM, I'm unable to update MacOS because I'm getting a message that there isn't enough disk space.
 

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