The problem with VMs is games that require anti-cheat, which from what I've read from user experiences try to detect and prevent VM usage (not sure about Valve's anti-cheat though).
I've been playing only in a VM with GPU passthrough for years now and the online game which made problems was Darktide, but they pushed a fix soon after release to actually allow VMs. I've heard the same from friends using a similar setup.
Still anecdotal, I know, but it seems to be a rather small issue.
Hmm, as I've seen topics like this[1] for EAC, though a comment from a different result[2] mentions EAC can be configured to optionally block VMs so maybe it varies by game.
> Today, I purchased and installed Dead by Daylight with the intention of playing with some friends, only to start the game and find a message from Easy Anti-Cheat stating that the game "cannot run under a virtual machine."
You are right. I've heard similar stories about BattlEye in the past which I assumed might just have been a decision they've reverted since but could've very well been an option up to game devs to enable. Thankfully not many of them do seemingly.