Hyper-V and VMWare share some specific software component so they cannot run together. If you enable Hyper-V you cannot install VMWare, you get a warning. If you have already installed VMWare and you enable Hyper-V you get an error when trying to run VMWare. I prefer VMWare because traditionaly has many more features than other virtual machines. I am not sure about Hyper-V, I haven't used it, but VMWare supports any USB device and it can also use your serial (COM1) and parallel (LPT1) ports directly to connect legacy devices to the virtual machine. It can virtualize a physical disk (use the hardware directly) instead of creating a virtual disk so this is useful if your computer died and you want to load Windows on VMWare to take files and other data. It is also useful if you clone a limited storage (such as a tablet) on another larger disk and boot that in VMWare in order to upgrade Windows and then clone back to the limited storage. All these things cannot be done in VirtualBox and other free tools I have seen, only in VMWare.
As when installing Windows 11 on unsupported hardware, you can also hack Windows Setup in order to install in a Legacy BIOS virtual machine. I did that in my main PC (see 2nd PC specs) when trying Windows 11 on VMWare since my system doesn't officially support Windows 11.