Create new Win10-Pro-64bit VM and keep existing Win7-Ultimate-64bit VM

I plan to purchase a flash drive with a full product Win10-Pro-64bit and use it to create a fresh install of a new Win10 VM. I want to keep my existing Win7-Ultimate-64bit VM, if possible.

Will I have any issues doing this? Can I have both VMs active at the same time? I want to access my old Win7 VM library files while in the Win10 VM.
If not, are there any tools to transfer libraries from the existing Win7 VM to the new Win10 VM (other than temporarily copying them to a cloud or flash drive)? I understand I will need to reinstall Win7 apps on the new Win10 VM.

I will eventually delete the Win7 VM when I'm happy with the performance of the Win10 VM.

 

Hello @icarus51 You can try creating a new Windows VM by following the steps from the article https://kb.Parallels.com/4729 to isolate the situation and to access your files on Windows 7 you can refer to this article https://support.microsoft.com/en-in/help/4092694/windows-10-file-sharing-over-a-network and make sure they are configured under the Bridge network to be on the same network as different computers.