"Windows10.pvm Intel-based" cannot be started in Apple M1 chip

TapanP2

Bit poster
I am migrating from my old Apple intel MacBook w/ Parallels Desktop 16 (Windows 10) to my new Apple M1 MacBook Pro w/ Parallels Desktop 16.5/17. I took full backup of Windows10.pvm after shutting it down. Now It keeps on giving me error message: "Windows 10" cannot be started because it contains an Intel-based operating system. Such system are not compatible with Macs equipped with the Apple M1 chip." This is unacceptable for me since I have all my business software installed in it. It should at least give me a utility to upgrade.

Also, the Windows 11.pvm provided does not have any Product key or license and is not Active.

Please help ASAP.
 
I was able to retrieve my Windows 10 key and activate Windows 11 ARM on Parallel Desktop 17 on my new Apple M1 MacBook Pro!
The only hassle was reinstalling everything in this vm image.
Thank you,
 
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