UTM is good and I’m not the biggest Parallels fan, but Parallels is currently the only host with guest tools for Windows 11 ARM. While Windows 11 ARM can run in UTM and VMware, it’s a night/day difference in quality when using Parallels. I have to give credit where credit is due—I get 120 Hz, retina graphics in my Windows 11 ARM VM under Parallels on my M1 Pro.

That being said, I’m eagerly waiting for a viable alternative so I can ditch Parallels.