The licensing for Windows Server 2022 Standard and Datacenter editions is based on the number of cores in the physical server. Each server requires a minimum of a single base license which covers 16 core licenses.
For Windows Server 2022 Standard edition, it includes rights for 2 Operating System Environments or Windows Servers containers with Hyper-V isolation when all physical cores in the server are licensed. If you want to run additional VMs, then you will need to purchase additional licenses.
If you want to create a highly virtualized environment, then you should assign Windows Server Datacenter licenses, which allows you to run an unlimited number of instances of Windows Server on the licensed server.