I am certain I have removed hyper-v.   I am certain I have removed the silly Windows Defender stuff using this:

reg add "HKLM\System\CurrentControlSet\Services\WdBoot" /v "Start" /t REG_DWORD /d "4" /f
reg add "HKLM\System\CurrentControlSet\Services\WdFilter" /v "Start" /t REG_DWORD /d "4" /f
reg add "HKLM\System\CurrentControlSet\Services\WdNisDrv" /v "Start" /t REG_DWORD /d "4" /f
reg add "HKLM\System\CurrentControlSet\Services\WdNisSvc" /v "Start" /t REG_DWORD /d "4" /f
reg add "HKLM\System\CurrentControlSet\Services\WinDefend" /v "Start" /t REG_DWORD /d "4" /f

I have also applied registry and policy settings to disable Defender Device Guard.

I have narrowed down the issue to Windows 11 2022H2 and the AMD update:

https://www.amd.com/en/support/apu/amd-ryzen-processors/amd-ryzen-7-processors-radeon-graphics/amd-r...

Not sure what you mean by 'no such thing as software virtualization'.  My understanding is the setting:

'virtualize intel vt-x/ept or amd-v/rvi' is a software workaround for when the CPU doesnt have hardware virtualization or for when you are nesting virtual systems.   So to me that would indicate software virtualization.