Just gonna add a bit here. I haven’t used proxmox, but I do have a GPU I assign to QEMU/KVM virtual machines. The arch wiki has an article that helps a lot, for anyone who wishes to try this. I have also found that the virgl drivers allow for sufficient graphical performance for video decoding at high resolution, so that is another potential option to explore here that doesn’t involve allocating the GPU to a VM.
To tag onto this… for a low end VPS I love Hetzner. No, they aren’t the cheapest, but the cheaper options are generally bottom-of-the-barrel unstable garbage or require promotions that expire. Hetzner is stable, professional, and cheap. Great choice for a simple personal VPS.