I'm confused about the p.1 docs around VMM flag and SMBIOS. On my MacBookPro10,2 the VMM flag makes no difference at all to whether I am offered an update (which I am testing now, on the currently available developer track Big Sur 11.3 beta update) whereas spoofing the BoardProduct setting (which is mentioned later on p.1, and as being to do with hardware acceleration) makes all the difference as to whether I am offered the current update.
I've rebooted testing all four possible combinations of these two settings to see when I get offered the update, and it's definitely only the board id which is enabling it, for me. (To make sure nothing else was affecting this, I used the completely vanilla basic config.plist from p.1, with no other edits.)
From what I know now about OC, I would actually have expected the results I am getting! After re-reading p.1, I was hoping to find in the VMM flag a new and unexpected way of enabling updates! But, for me, it's not.