Hi Robert,
Yes, the same dongle runs on Mac or Windows; there is no difference.
To run from within your VM, you will have to temporarily assign the keyplug to your VM via the Fusion menu system. I run Parallels, so don't know the Fusion commands - Matthew or someone else can help if you cannot find it. (In Parallels, you just go to the Devices menu, USB and tick the checkmark to have the device re-assigned to the virtual machine.)
Note that you can NOT run AC on BOTH your Mac side and Windows VM at the same time! The keyplug will be associated with one OS or the other. When you are ready to work on Mac AC again, you'll have to use the Fusion command to release the dongle back to Mac OS.
Cheers,
Karl
PS This device assignment thing is no different than when you plug in a thumb drive or other external hard drive, etc, for example. Depending on your installation, you'll be prompted for whether you want it associated with Mac OS, or with your Windows VM. But, you can use the VM menus to switch the device back and forth.
AC 28 USA and earlier • macOS Sequoia 15.3.1, MacBook Pro M2 Max 12CPU/30GPU cores, 32GB