Hi Ceddrick,
You can 100% do this.
It's the same as using physical machines. Your licence config file will contain the number of RunTime Resource(RTR) that can be active at one time and thats what you need to worry about. An RTR can be a VM or a physical machine.
e.g. your licence allows 5 active RTRs, you have 6 RTRs configured and set that can be used.
You have 5 process running on RTRs number 1,2,3,4 & 5 at once. When you try to run another process on RTR number 6 you will get an error message saying something like ""You licence only permits the use of 5 machines at once"".
So you stop running the process on RTR number 1 and try again. This time because you only have 4 process running, the Application server will allow the process to start on RTR number 6.
Whether the RTR is running on physical hardware or a VM is irrelevant so you won't have any issue there.
Kind regards,
Ben