Still couldn't get it to boot. Maybe it's the .iso from Ubuntu, however, I re-downloaded it fresh from the site and tried again and got the same result.
Here's the workaround that I used:
Created new VM and installed Ubuntu 20.04 SERVER
Once Ubuntu 20.04 SERVER was installed, I installed the Ubuntu DESKTOP components with these commands
sudo apt-get install tasksel
sudo tasksel
Select Ubuntu Desktop selection and install
Reboot the VM you should be able to VNC into Ubuntu 20.04 DESKTOP without issue