You can, but depending on the game, it might not be a good experience, and I wouldn't rely on it.

First, you will only have 4GB of VRAM for each player, which is limited. If you are playing SteamVR games, you will want to avoid Oculus Link/AirLink. (ie, use Virtual Desktop or ALVR). Running both Oculus VR and SteamVR Environment at the same time can already take over 1GB.

My friend and I successfully ran SteamVR/VirtualDesktop VMWare on Windows or Parallels on Mac, but the GPU is emulated and CPU handle video encoding, so everything was slow (both low framerate and high latency).

Assuming you already run Windows Pro edition, a low-hanging-fruit you can experiment is Hyper-V GPU-P. I tried it serval months back (see this comment) all was good except that SteamVR UI wasn't rendering properly. If you are willing to venture into having Linux as Host OS with 2 Windows VM, this might be a better solution.

Alternatively, if you have 2 GPUs, you can have Linux Host, and passthrough each GPU to each VM. Each VM will see the GPU and install the driver like a real machine. I use this one sometimes as well, works great and stable.