Parallels can download Windows 11 Arm images from directly inside the app. This was interesting to me since this normally requires a Windows Insider account and I haven't seen any other software that does this. [1/n]
These ESD files are not immediately useful as they are a Microsoft format and cannot be installed directly using Parallels, VMware, or similar products. In this case, Parallels happens to ship with a tool `prl_esd2iso` which converts these ESD files into ISO images.
After converting the ESD to an ISO, you can now install Windows 11 in your preferred VM software. There are other tools for converting ESD files to ISOs out there in the case that you don't have Parallels; as an exercise you could even make your own. (Hint: wimlib) [5/n]