I found you can run Windows VM (or Debian...) on OSX, in particular on iPad with "M" chips thanks to UTM by downloading the OSX Hypervisor on your iPAd.
Note: UTM does not currently support GPU emulation/virtualization on Windows and therefore lacks support for 3D acceleration (e.g. OpenGL and DirectX). You may be able to run older games with software rendering options, but nothing with hardware acceleration.
I found you can run Windows VM (or Debian...) on OSX, in particular on iPad with "M" chips thanks to UTM by downloading the OSX Hypervisor on your iPAd.