Is this how to migrate? Is it this simple?

Lots of content here on the topic, some old, some new. I have what I think might be a the right question here.

I am currently on the latest version of HA. I have installed on an ubuntu host. I’d like to move to a supported config and also get some of the benefits of virtualization related to backups and snapshots. I’m not really interested in saving on hardware as I am running HA on a Ryzen 2700X with 32GB memory, NVEM SSD. I have a lot of physical devices setup. I’m probably over 300 at this point, still about 80 or so to move from SmartThings.

Is it this simple?

1 - Take a snapshot
2 - Install proxmox or whatever virtualization software
3 - Configure network if needed
4 - New Install
5 - Plug in my zwave/zigbee stick
6 - Restore the snapshot
7 - Use Home Assistant as I did before