Hi @~OSD~ ,
Yes you can, you can make use of the Automatic virtual machine activation (AVMA) for your scenario.
AVMA lets you install virtual machines on a properly activated Windows server without having to manage product keys for each individual virtual machine
You'll find more information here:
Automatic virtual machine activation
https://learn.microsoft.com/en-us/windows-server/get-started-19/vm-activation-19
Below you'll find how to implement and use AVMA:
How to implement AVMA
1. On a Windows Server Datacenter virtualization server, install and configure the Microsoft Hyper-V Server role. For more information, see Install Hyper-V Server.
2. Create a virtual machine and install a supported server operating system on it.
3. Install the AVMA key in the virtual machine. From an elevated command prompt, run the following command:
slmgr /ipk <AVMA_key>
The virtual machine will automatically activate the license against the virtualization server.
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Best regards,
Leon