Snapshot never completes for macOS 13 guest running on macOS 13 M1 host with Parallels 20.0.0

Whenever I try to take a snapshot of a macOS Ventura (13.7), the Control Center shows a spinning circle for hours. It never completes. I thought Parallels 20 was supposed to support snapshots on M1 hardware? I've got 646 GB of free disk space on the host. That should be enough to take a snapshot.

I've already tried the steps in this KB article: Unable to create the snapshot. Problem ID: 53 (parallels.com)