How best to migrate to Win 11/Parallels on M1 Mac

Hi all, I think I will be getting an M1 Mac this fall. I currently have a MacBook Pro with Parallels running Windows 10. My understanding:

1) I have to install a fresh Windows 11 (or Win 10) .PVM in Parallels on the M1, there is no way to copy/migrate my existing PVM file to the new Mac;
2) Formerly when moving to a new computer I deactivated (that may not be the right term) my Parallels license on the old Mac, copy the PVM and then use the 1 license on the new Mac;
3) Ideally if I am installing from scratch, I would like to be able to keep the old PVM running in case I miss something that needs to be installed, configured, etc. that I forgot about. If I just deactivate my Parallels license on the old Mac, and start setting up the new, there will be no way to look back on the old PVM.

So - how are people doing this kind of migration? Is there a way to keep 2 licenses alive for a short period of time to do the migration, or some other way to view/review what I have installed while setting up a new M1/Parallels/Windows? Seems like this area needs work by Parallels unless they are making a migration easier somehow and I am not aware of it.

Thanks!