I've you're running Linux on your system use KVM. If you're running Windows, use Virtual box.
In my experience, there are no problems with either VirtualBox or VMware when it comes to Arch. Personally, I mainly use VirtualBox.
I think both are usually fairly well supported, but VirtualBox being open-source it's probably got slightly better drivers for desktop use although I'm sure VMware has it pretty well covered as well.
Ultimately it's not going to affect the experience much. All Linux distros are going to perform comparably in a VM as long as the appropriate drivers are in use.
What you look for in a distro is more like the general experience of using it: does it have the packages you need, do you like the package manager and how the packages are structured, do you like how it sets up services. Especially for a more DIY distro like Arch, by the time you've set up your desktop environment and software you'll probably have a good feel of how the distro works already. With Arch in particular you won't be looking at any sort of out of the box experience (ie. does it install and support your hardware easily out of the box post-install) like you would if you were comparing Debian/Ubuntu/Fedora/Mint/SUSE/Manjaro.
Seems like HyperV is the obvious answer, but last I knew that was a Windows Pro and up feature. Virtual Box is a fine tool as an alternative.