I buy a $100 Windows 11 Pro licence, and my limit is 1024 VMs
Hyper‑V on Windows 11 supports up to 1024 simultaneous VMs per host if the hardware can handle it. On my little Windows ARM laptop I can easily run 4 VMs before it runs out of steam.
On Mac, you can run lots of Windows/Linux VMs and two Mac VMs.
On Windows, you can run lots of Windows/Linux VMs and zero Mac VMs.
The limit of 2 is just for virtualizing macOS. You can run as many Linux VMs as you want at once on macOS.