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I have the same issue here. MacBook Pro 14" M3 Max. Sonoma 14.5, Parallels 19.4.0 (54962)
Time Machine doesn't backup Windows 8 PVM I have the same issue... I thought that my VM was getting backed up because I didn't tick the do not...
I am not a happy camper... I have the same issue and the boot flag is a patch that at best stops the annoying sounds but creates other problems...