The PhysicalBreaks registry entry actually needs to be set to less than the max_segments size for each backing block device.
This can be determined by issuing the commandgrep "" /sys/block/*/queue/max_segments
.
If, for example, your block device has a max_segments of 60, it should be set to no more than 59, but one might consider setting it to 32 instead.
More info: https://github.com/virtio-win/kvm-guest-drivers-windows/issues/827
This could be programmatically determined and applied to the qemu command line, per this mention.