Hello,
Partition into C and D drives. Keep the Hyper-V host Windows installation on C, and store all the Hyper-V data on D. Change the default folder within the Hyper-V settings.
I wouldn't recommend leaving drive space unallocated unless you have some future plans for adding another logical drive. Therefore, I'd recommend giving around 120GB to C and the remaining space to D. When you create your VM's you can use a dynamically expanding disk for your VM's, just be mindful if you are over-committing beyond the available storage on the host.