I'm also having this issue on an M1 Pro MBP, MacOS 12.3.1, Parallels Version 17.1.2 (51548). I'm actually running a MacOS VM, since I only need it for VPN/network isolation and don't want to pay for a Windows license.
I've noticed I only get the IOUserEthernetController kernel panic shortly after my host machine wakes from sleep. One work around I've found to reduce the frequency of the kernel panics, is to leave my laptop plugged into power as much as possible, and setting the "Prevent your Mac from automatically sleeping when the display is off" option in the Battery -> Power Adapter settings.