So the biggest issue you will find is that the standard virtualization platforms like VMware and Hyper-V aren't suited to this: Many games need support for extremely old DirectX versions and that generally isn't implemented for things like VMware especially prior to XP.

PCem is the one I've seen that seems ideal to the task, but I haven't had the time recently to experiment with the configurations for it.

https://www.pcem-emulator.co.uk/

The key distinction is that it actually emulates various legacy graphics and sound hardware that games may have been intended to run on.