Just try using SeaBIOS because the other day I had it on OVMF and it kept running in a loop like what is happening to you and after changing that option I managed to boot into Windows Setup for Windows 11. Typing 'exit' did nothing for me also.
If that also doesn't work then it could be your CPU
I tested your config on my i7 8700k and the vm loaded to Windows Setup.
I have seen quite a few posts here on the forum, reddit and linustechtips where people are having issues with Ryzen 5000 series on UnRAID
I keep seeing these errors with your VM's in the logs
2021-10-18 06:39:00.442+0000: 21844: warning : qemuDomainObjTaint:6075 : Domain id=1 name='Terminal One' uuid=870b08cd-bed8-e8d9-fd8d-0747c71c7acd is tainted: high-privileges
2021-10-18 06:39:00.442+0000: 21844: warning : qemuDomainObjTaint:6075 : Domain id=1 name='Terminal One' uuid=870b08cd-bed8-e8d9-fd8d-0747c71c7acd is tainted: host-cpu
2021-10-18 06:40:08.869+0000: 21842: warning : qemuDomainObjTaint:6075 : Domain id=2 name='Terminal One' uuid=870b08cd-bed8-e8d9-fd8d-0747c71c7acd is tainted: high-privileges
2021-10-18 06:40:08.869+0000: 21842: warning : qemuDomainObjTaint:6075 : Domain id=2 name='Terminal One' uuid=870b08cd-bed8-e8d9-fd8d-0747c71c7acd is tainted: host-cpu
2021-10-18 06:43:04.915+0000: 21844: warning : qemuDomainObjTaint:6075 : Domain id=3 name='Windows 10' uuid=26c75bbb-8f3d-f50f-55b6-e3ebd79e2c2f is tainted: high-privileges
2021-10-18 06:43:04.915+0000: 21844: warning : qemuDomainObjTaint:6075 : Domain id=3 name='Windows 10' uuid=26c75bbb-8f3d-f50f-55b6-e3ebd79e2c2f is tainted: host-cpu
2021-10-18 06:47:29.539+0000: 21843: warning : qemuDomainObjTaint:6075 : Domain id=4 name='Windows 10' uuid=5e95f5ec-f371-fe9a-7fb9-fdc7bdf485d4 is tainted: high-privileges
2021-10-18 06:47:29.539+0000: 21843: warning : qemuDomainObjTaint:6075 : Domain id=4 name='Windows 10' uuid=5e95f5ec-f371-fe9a-7fb9-fdc7bdf485d4 is tainted: host-cpu
If I am correct then it looks like the Host CPU isn't correctly passing through to the VM's.