Correct answer is A.
Creation from an existing snapshot is not permitted if there are:
Any snapshots present in the file system that were created with the ADVM compatibility set to less than 12.1
A. Correct: ADVM compatibility must be 12.1 or higher for the parent snapshot feature.
B. Incorrect: The parent snapshot can be read/write; it doesn't have to be read-only.
C. Incorrect: High redundancy is not required for creating snapshots.
D. Incorrect: The parent snapshot can be either read/write or read-only.
B - wrong - the parent snap can be RW, but it has to be created on compatible >=12.1
Creation from an existing snapshot is not permitted if there are:
Any snapshots present in the file system that were created with the ADVM compatibility set to less than 12.1
https://docs.oracle.com/en/database/oracle/oracle-database/21/acfsg/acfs-commands-snapshots.html#GUID-A1E4A4B5-CD16-4ADC-817D-4CD7D2DA12DF
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