I did, too, and it's working fine. 
Here's a more detailed account of my actions -- in what is basically a 'bare-metal' to full working OS process...
I had a HP desktop PC with Windows 7 installed in its HDD that was really sluggish and took several minutes to boot.
I also had an old Adata 128 GB (125 GiB) SSD and got an non-descript extra 4GB RAM DIMM which I added to it.
1. I booted from Ventoy LiveUSB and used it to install Linux (Mint 20) to the SSD -- I didn't touch the HDD, just in case something went wrong.
2. I booted the PC (which now felt way faster, BTW) and installed VirtualBox from the online repos.
3. In VirtualBox, I created a new VM for Windows 10 with mostly the default settings, except for choosing a VHD disk and increasing the memory to 4GB.
4. I attached a Windows 10 DVD ISO to the VM as a virtual CD-ROM and booted in VirtualBox.
5. Windows 10 installation began and I left it to finish -- again choosing mostly defaults, apart from using a local account and refusing any telemetry prompts.
6. After it finished, I closed VirtualBox and looked in its VMs folder (it's under '/home') for the newly created Windows 10 VHD, which I copied to the HDD -- it's a large file (over 10GiB in my case), so it took some time.
7. Then I rebooted the Ventoy LiveUSB into Linux, downloaded Ventoy Linux installer to the HDD, cleared the partition on the SSD and installed Ventoy into it (for details, see https://forums.ventoy.net/showthread.php?tid=579; plus I reserved some space at the end for an extra partition and over-provisioning...).
8. I fired up GParted (most modern distros include it), re-formatted Ventoy 1st partition on the SSD to NTFS (it's mandatory!), and created 2 folders in it: a 'ventoy' one (also mandatory, see 10. below) and one 'BOOTIMG' (optional, but convenient for later restricting booting from it).
9. I copied the VHD (see 6. above) from the HDD back to the SSD and placed it in the 'BOOTIMG' folder.
10. I downloaded the 'ventoy_vhdboot.img' mentioned in Ventoy's "Windows VHD Boot Plugin" page (https://www.ventoy.net/en/plugin_vhdboot.html) and placed it in the 'ventoy' folder (see 8. above).
Then I rebooted the PC, taking care of removing the Ventoy LiveUSB first, and everything just worked.
Thanks fly out to longpanda for the excellent program, for vishalvodro for the initial instructions, and to everyone else for contributing.
Here's a more detailed account of my actions -- in what is basically a 'bare-metal' to full working OS process...
I had a HP desktop PC with Windows 7 installed in its HDD that was really sluggish and took several minutes to boot.
I also had an old Adata 128 GB (125 GiB) SSD and got an non-descript extra 4GB RAM DIMM which I added to it.
1. I booted from Ventoy LiveUSB and used it to install Linux (Mint 20) to the SSD -- I didn't touch the HDD, just in case something went wrong.
2. I booted the PC (which now felt way faster, BTW) and installed VirtualBox from the online repos.
3. In VirtualBox, I created a new VM for Windows 10 with mostly the default settings, except for choosing a VHD disk and increasing the memory to 4GB.
4. I attached a Windows 10 DVD ISO to the VM as a virtual CD-ROM and booted in VirtualBox.
5. Windows 10 installation began and I left it to finish -- again choosing mostly defaults, apart from using a local account and refusing any telemetry prompts.
6. After it finished, I closed VirtualBox and looked in its VMs folder (it's under '/home') for the newly created Windows 10 VHD, which I copied to the HDD -- it's a large file (over 10GiB in my case), so it took some time.
7. Then I rebooted the Ventoy LiveUSB into Linux, downloaded Ventoy Linux installer to the HDD, cleared the partition on the SSD and installed Ventoy into it (for details, see https://forums.ventoy.net/showthread.php?tid=579; plus I reserved some space at the end for an extra partition and over-provisioning...).
8. I fired up GParted (most modern distros include it), re-formatted Ventoy 1st partition on the SSD to NTFS (it's mandatory!), and created 2 folders in it: a 'ventoy' one (also mandatory, see 10. below) and one 'BOOTIMG' (optional, but convenient for later restricting booting from it).
9. I copied the VHD (see 6. above) from the HDD back to the SSD and placed it in the 'BOOTIMG' folder.
10. I downloaded the 'ventoy_vhdboot.img' mentioned in Ventoy's "Windows VHD Boot Plugin" page (https://www.ventoy.net/en/plugin_vhdboot.html) and placed it in the 'ventoy' folder (see 8. above).
Then I rebooted the PC, taking care of removing the Ventoy LiveUSB first, and everything just worked.
Thanks fly out to longpanda for the excellent program, for vishalvodro for the initial instructions, and to everyone else for contributing.
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