Hello,Same here with Win 11 ARM build 22483 on M1 Mac Mini w/ 16GB RAM & 2TB SSD. VM configured with 4 processors 8GB ram under Parallels 17 standard edition.
But, the Start button can be right-clicked to show a pop-up of selections. Some, like Task Manager work OK. Some, like Settings, errors out with the 'no file association' error - see attached screen shot.
Control Panel is accessible from the VM window File menu.
Right now, this is not a workable version...