Monterey guest on Ventura host macmini M2 Pro 2023 (KB 125561)

Hello,
I have a question, referring to recent KB article: https://kb.parallels.com/en/125561
Due to a number of unforseen compatibility issues, we need to run Monterey on this brand new machine. Now, keep in mind this machine was factory issued with Ventura.
Under the section titled "Install MacOS VM of a different version", this sentence seems to imply that it is possible to generate a "different" version VM:
"Hence, if you wish to create a macOS virtual machine with a different macOS version, it is necessary to create it on a Mac running that version, and then transfer the resulting .macvm file to the destination Mac."

As i can't downgrade the host to monterey, as i understand apple do not allow factory downgrading OS. I do, however have an available macbook air M1 2020 running Monterey. Does this mean i can "generate" a monterey VM on macbook air, transfer file across to new macmini M2 Pro 2023, and run the Monterey VM?

If this is not going to work. Will there be any future support for a downgraded OS from factory issued host? I see form ipsw for this macmini M2 Pro 2023, only Ventura files are available: https://ipsw.me/Mac14,12

many thanks,.

 

fantastic thanks Pramesh i will be sure to give it a go.