When you migrate the VM to another node, the new node is freshly starting the kvm instance (with the new pve-qemu-kvm version) - in fact it is also freshly "booting" the VM - as if it were just now booting - just the state (incl. RAM) has been saved (same as a hibernated system that is restarted).
Theoretically, on the same node - this could also be done by hibernating the VM (saving its state incl. RAM) & then restarting. Not sure what the time gain would be verses a complete clean reboot of the VM, although I guess this will be VM-dependent.