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Great! I think I remember having similar things in the past with PP. Using Resolve mostly these days and have a whole host of new 'quirks' to contend with.
Toying with a couple of minis for a portable live streaming set up but will wait to see what Parallels come out with in terms of running Windows cleanly as VMix (common tool for live stuff) is Win-only and it's got to be zero delay or not worth getting.
CYOA-
I think your only hope in the near-term is running VMix on Intel Minis in Bootcamp.
Windows via Parallels on ARM is likely to mean the half-baked Win10 ARM build running natively in a VM, with VMix running within that via the built-in Windows x86 emulation layer. I wouldn't trust that in anything approaching a production environment.
Having used and been abused by VMix for a while, I'd expect their developers to entertain the prospect of an ARM macOS rewrite in precisely never.
ectoplasmosis
@CYOA you helped me work out that it's specifically the dip to black transition where it happens. Cheers! Side note more related to the thread: I'm eyeing up the M1 Mac Mini.