Q. Does using processor compatibility on Hyper-V require specific processor features?
A. No. Processor compatibility is implemented in the software and hides features on processors from the VMs that are not available in all versions of processor for example SSSE3 and above, POPCNT and Misaligned SSE. This normalizes the processor in the VM and enables the VM to be live migrated between nodes that are running different versions of the processor. Note that this will NOT allow you to live migrate VMs between AMD and Intel processors.