From what I understand, the standard version of Parallels does not give you the option to install a vTMP 2.0 chip, which is required for Win11. I'm running the PRO version of Parallels, and using vTPM 2.0 and Secure Boot, and have updated to 22449.1000 with no issues. My host has an unsupported CPU (E5-2977 v2, 12-core, 2013 Mac Pro), but everything still works fine.