The "Bootable" legacy ISO you've used is in fact not bootable, it relies on CDROM emulation provided by BIOS. VMs don't usually do this sort of emulation. If you set the guest OS to something like ...

Microsoft’s newly released ISO file lets you easily install Windows 11 on a clean PC, a dual-boot system or a virtual machine. Microsoft has finally released an ISO file for the Windows 11 Insiders ...