I decided to try a different CPU option, as in the logs I saw a lot of warnings that seemed to point at the CPU (like 2026-01-21T16:38:57.459318Z qemu-system-x86_64: warning: This feature depends on other features that were not requested:). My CPU is an EPYC 7713. Instead of using Host Passthrough or Host Model, I swapped it to kvm64 and I do now see it working in the Serial Shell (still no display, but that’s not an issue for me).