Moving to either proxmox or incus is the best choice for any business right now. Both are open source and offer enterprise plan, which is probably way less than VMware
I can’t speak to Incus but IIRC Proxmox isn’t a supported hypervisor for Red Hat deployments. I’m a fan, and I run it in my home lab, but that might be an issue in a business context if you’re running RHEL.