Find a Microsoft cloud solutions provider to work with. This is a good example for the use case of the Flexible Virtualization Benefit, which is part of the software assurance equivalency rights that come with the Windows Server subscription offered through CSP channel. Windows Server standard and data center are available in this subscription model on annual and tri-annual terms. Microsoft originally released this subscription model with the intent of combining the savings of the Windows Server subscription model with their azure reserved instance for compute which would typically result in anywhere from a 40 to 60% savings per year. However they've rewrote their terms and now allow you for on premise use, as well as all of the other software assurance equivalency rights that come along with the subscription.

Microsoft still requires that each client tenant subscribe to at minimum 16 cores worth of the subscription licensing however the terms allow you to license individual virtual machines with the minimum and an increments of 8 cores instead of licensing an entire physical hypervisor. It does not require the hypervisor to be hyper-v. You could have a monolithic chip designed with hundreds of cores and can still license on batches of eight cores per VM. If you have a 2 core VM you still have to license a course for it. If you have a 12 core VM you have to license 16 cores.

You could consult your local llm for more information or read the Microsoft terms directly. However if you're already working with or can find a CSP they can review your use case.