I used to use Parallels Desktop and with my hand on my heart, I can tell that this is one of the best software to run Windows 11 on Mac with Apple Silicon.
There is a big problem for me, however. Parallels Desktop is a bit expensive in long term. As expensive the life become recently, everybody is trying to save some pennies, even me. I cut unnecessary subscriptions by some and Parallels has been one of them (along with Bitdefender in favour of free Avira). I recalculate the use of Windows on my macOS device and the conclusion was that I am paying and not using it.
In a searching for Windows 11 designated to arm64 based processors, (like Apple M1 and newer) I found, on UUP Dump, a version Windows 11 arm64, which was marked as designed for Retail. I decided to try to install it in UTM on macOS and my MacBook Air with M1.