what you are including in the image, then. Things like the swap file should not be included in the image.
Looking at the instructions, it seems that P2V should take care of this - it only mentions selecting drives/partitions.
Migration without rebooting Windows - Hot processing of locked (in-use) hard disks lets you migrate a computer without rebooting and interrupting Windows.
This does not seem to be working, then. Perhaps do try with the OS offline, if possible, as this is also supported.
This is not a server OS, is it? You are otherwise within the system requirements?
You may wish to bring this up in the Paragon forum. You are likely to get a better answer, and/or indeed make Paragon aware of a hitherto unknown problem/bug.
I may just download and try this thing to get a better idea of how it is suposed to work.