Microsoft
MicrosoftLoco23 That's not exactly the correct interpretation. It's saying that at max a virtual nic (which is assigned to a vPort) could only scale across 4 CPUs at a time. You're not limited on number of VMs that are assigned a queue (until of course you run out of queues). Additionally, the default queue is a shared queue as explained in the blogs that can be used by multiple vPorts.
There may be some vendor quirks that modify how it is working on your system and I would say if you find something that doesn't make sense, you should open a support case so that we can review properly. It's possible that the adapter has a quirk but that doesn't it mean that's how it should work (e.g. limiting you to only 2 VMs with 16 queues each)! Our support teams can work with the partner (NIC vendor) to get this corrected in their driver.