Yes. I have one NUC using a single NVMe and one NUC using a single SSD. Both are configured to use the ZFS file system and are clustered together (with a qdevice as a 3rd node for quorum)...
I replicate the local ZFS based VMs between the nodes but also back them up daily to shared NFS storage.
If you’re planning on running a single node single disk solution, I’d recommend backing the VMs up to Remote Storage...