https://developer.apple.com/documentation/virtualization?lan...
https://developer.apple.com/documentation/hypervisor?languag...
Looks like Virtualization.framework is newer (Big Sur only) and uses Objective C classes rather than C functions.
I know from the xhyve README that it contains code responsible for booting a Linux kernel, which suggests Hypervisor.framework does not take care of that for you. The Virtualization.framework API on the other hand takes a linux kernel + ramdisk as its inputs.
So it sounds like the framework vftool is built on is more high-level than that of xhyve, and like vftool is Linux-only.