I am running Parallels Desktop 19 on a MBP (M1 Max, 32GB Memory, macOS Sonoma 14.1.2). I have a Windows 11 VM, nothing massive, around 60GB size. Up until today it ran great. However today Parallels starts up unresponsive with the spinning color wheel. It responds to nothing but force quit.
Upon a reboot and fresh launch, it asks me if I want to try reopening windows. I cannot even select "Don't Reopen" because the application immediately goes into a "Not Responding" status in the activity monitor.

What can I do? Is simply backing up the .pvm file enough to then delete and reinstall Parallels from scratch?
Thanks for any advice
Upon a reboot and fresh launch, it asks me if I want to try reopening windows. I cannot even select "Don't Reopen" because the application immediately goes into a "Not Responding" status in the activity monitor.

What can I do? Is simply backing up the .pvm file enough to then delete and reinstall Parallels from scratch?
Thanks for any advice