Look up Bitwig studio as a replacement for Ableton Live. I know it's an expensive tool to replace, but its workflow is very similar to Ableton Live and it supports Linux.
I'd like to achieve sub 10ms latency and I feel running in a VM would make that very difficult?
Did USB passthrough for MIDI devices work well?
I've considered bitwig for Linux production but a big issue is you end up losing a lot of VSTs that aren't native to Linux (Serum and Massive, both wavetable synths, are a good example).