Running Mac OS Big Sur under Parallels

When I tried to install the developer preview of Mac OS Big Sur in a Parallels VM on my Mid 2012 MacBook Pro, I got the dreaded BIErrorDomain 3 error when I tried to select a target disk.

I googled a lot of places and got lots of sort of answers. I tried creating a clean VM from the Recovery Partition and even that didn't work.

The solution I discovered was to add the following lines to the VMs boot flags.
 (Configuration > Hardware > Advanced Settings > Boot flags:)

devices.mac_hw_model="MacBookPro14,1"
devices.smbios.board_id="Mac-B4831CEBD52A0C4C"

You can also set these by editing the VMs config.pvs file and adding them into the SystemFlags section.

<SystemFlags>devices.mac_hw_model="MacBookPro14,1" devices.smbios.board_id="Mac-B4831CEBD52A0C4C"
</SystemFlags>

With these settings the install proceeded as expected, rebooting a few times along the way.
Unfortunately, it doesn't run very well.