I want to give an update to my earlier comments from Oct 06 2021.
I tested again with a released version of Windows 11 (including November updates) as the host. The performance issue on AMD is still there when nesting is enabled and the guest has Hyper-V installed (no nested guest running). Also given the disappointment that AMD has delayed / not launched Threadripper 5000 models, I recently switched to a system with dual socket Intel XEON 4314.
For the test I measured the build time of bullet3 (https://github.com/bulletphysics/bullet3) with VS2019 in the same Hyper-V Windows 10 guest (it was exported from the AMD host and imported on the Intel host).
AMD host, guest without nesting enabled: 33.6 seconds
AMD host, guest with nesting / hyper-v enabled: 45.4 seconds
Intel host, guest without nesting enabled: 29.4 seconds
Intel host, guest with nesting / hyper-v enabled: 30.3 seconds