How about using using 8 core licenses on this server for virtual machines and physical server ?
Sorry, same answer. A minimum of 16 core license is required for each server plus in order to use virtualization all physical cores must be licensed. vCPU assignments for the virtual machines does not affect licensing.
https://download.microsoft.com/download/7/C/E/7CED6910-C7B2-4196-8C55-208EE0B427E2/Windows_Server_2019_licensing_datasheet_EN_US.pdf
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