In my opinion, one should use KVM exclusively for that purpose. However, it is not very clear to me why the ‘Virtual Machine Manager’ was marked deprecated, although not all functions are yet available via ‘Cockpit’.
I used many other solutions before, but KVM is the most compatible one in the case we are talking about type 2 hypervisors. I have not the best experiences when we are talking about vmware-virtualization as software on top of a regular Linux host in general.
For professional use-cases, Vmware is of cause one of the best solutions available and used by many people of the RHEL staff. One can try o-virt-based solutions, but the setup in not that easy for clustered solutions and will take some time.
That is certainly worth a look: OpenShift Virtualization, and I think one node non-clustered solution will be available soon:
What's new in Red Hat OpenShift (one may want to follow the news here)