Questions about the different versions of Parallels and Windows 11

I am running Parallels PRO (I guess since it did the upgrade to Parallels 18 and my account on the Parallels website says my next payment is due later this month). I know I started using the PRO version because I started this "adventure" with M1 iMacs and the Insider builds which required the PRO version of Parallels.
Anyway question: What is the difference between Windows 11 ARM HOME and the PRO version of Windows 11? I ask because before the whole M1/ARM business I never purchased the PRO version of Windows before and never felt the need for it. And prior to getting an M1 iMac and starting with the Insider Program I never felt the need for the PRO version of Parallels because most of the differences that I see I would not have any need for.
So would it make sense (for me) to start again with the HOME version of Parallels 18 and let it install the HOME version of Windows 11 ARM from Microsoft? If I interpreted the answer in another thread here, I would then be able to purchased a license key from Microsoft also.
Thanks.

 

Thanks for that. Really nothing that I would be interested in or actually need in the PRO vs HOME editions. That's what I thought anyway. Now the question of whether it pays to build a HOME edition VM and then have to move whatever I need to that VM.

 

After reading your post and the information on the links you provided I decided that at this point - since I already had a subscription to the PRO version of Parallels it makes no sense to switch. We shall see what happens when Windows 12 arrives like you also suggested. Thanks.