After upgrading macOS to Big Sur, "Connect Mac to this network" and "Show in System Preferences" options disappeared from Parallels Preferences

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Issue

After upgrading macOS to Big Sur, Connect Mac to this network and Show in System Preferences options disappeared from Parallels Desktop preferences > Network..

Show in System Preferences option can not be selected so Host-Only network cannot be found from macOS System Preferences > Network. 

Shared
Host_Only

Cause

These features are now hidden due to macOS Big Sur restrictions (KEXT-less network mode): In macOS Big Sur Apple restricted usage of kernel extensions and Parallels Desktop does not load them by default, instead it uses macOS own built-in mechanism.

Workaround

Downgrade to Parallels Desktop 16.0.1 or earlier - make sure the version is compatible with macOS Big Sur.

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