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Sure, but you’ll get diminishing returns most likely as consumer hardware doesn’t really have the resources to scale that way very well if all the VMs are running demanding apps simultaneously.
Even for something like 4 VMs that just do NVenc, there are limits for how many streams the GPU can do. I think there’s another patch that lets you raise that, but at some point you’ll run out of resources quick. Even powerful consumer gear isn’t really designed to be used by more than one user/app and it starts to show the more you virtualize and split those resources.