It's likely most smartphones won't use it. Qualcomm notably shown itself quite stubborn against their customers using their own VMs.
Also, you won't be allowed to run your own VM without rooting. Only OEM/Google VMs will be allowed to run.
"Currently, no Android devices on the market ship with the Virtualization module — not even Google’s own Pixel 6 — but this is set to change with the upcoming Android 13 release."
https://blog.esper.io/android-dessert-bites-5-virtualization...
That isn't the current purpose though,
https://source.android.com/devices/automotive/virtualization
"Run Windows 11 on your Android 13 right now"
* "Users could soon be able to run Windows 11 on their Android devices."
* "Google is currently working on a plan to integrate the OS and Android 13 which will require a little bit of tweaking."
* "Virtual Machines will be the first to test out this new feature to see how it performs."
https://windowsreport.com/run-windows-11-on-your-android-13-...
"Thanks to Android 13, phones such as the Pixel 6 are able to run virtual machines for Windows and Linux with better performance and fewer headaches."
https://9to5google.com/2022/02/14/android-13-windows-linux-v...