Recovery mode, restoring from Time Machine - hangs up at "restore from" selection
I have a 2018 MBP running MacOS 14.5. I need to do a restore from my last full Time Machine backup (long story). I want to restore from a Time Machine backup that's on an external HDD. The drive is connected directly to the Mac - meaning there's no USB hub or anything in the middle. The drive has a USB 2 connector, and I'm using a cable that converts from USB 2 to C, although I doubt that makes any difference.
I got the computer restarted in Recovery Mode, and it was able to find the Time Machine disk. The next screen that appears says "Select A Backup" and has a drop down where I think it will show my full backups. Problem is, when it hits that screen the machine just goes out to lunch and doesn't come back. I get the "spinning beach ball" effect, and it won't stop (or give me a backup to restore from). I've tried shutting down the machine and restarting again in recovery mode, no difference. I've also let it just spin to see if it ever comes back...I've been waiting an hour or more, and still getting the spinning beach ball.
Parallels, macOS 10.14