Hi there,
Status Monitor v2 is a powershell-based feature as a part of AppInsights telemetry. Actulally, it collects app-level telemetry
If you want to collect operating level telemetry from the VMs, please use VM Insights + Azure Monitoring Agent
https://learn.microsoft.com/en-us/azure/azure-monitor/vm/vminsights-overview
Additionally, you can configure Data Collection Rules to collect custom logs and custom metrics if necessary
https://learn.microsoft.com/en-us/azure/azure-monitor/agents/data-collection-rule-azure-monitor-agent?tabs=portal