This relates to threads here about hanging on boot due to a kernel change that does a new register access that hypervisors do not expect.
This page provides a release with an old enough kernel to avoid the problem:
https://ubuntu.com/download/server/arm
Specifically:
This one will succeed in rebooting after initial installation. You'll eventually get a new kernel installed next to the original, and you can make sure to select the original kernel in the boot loader menus when booting up. Or you can modify GRUB to select that one.
Root thread:
https://communities.vmware.com/t5/Fusion-for-Apple-Silicon-Tech/Fedora-35-kernel-5-16-14-will-not-bo...
Argh, this is a Live ISO, and it looks like it now includes a newer kernel that breaks us.
Sorry folks!
More exactly, it appears that the Live CD initially contains 5.13.0-19, which works, but that gets whacked during installation updates to 5.13.0-37.
See the newer thread about a "unplug the network cable" workaround.