What is the best way to raise a virtual machine on an external hard drive under macOS?

Question

macOS

I tried to google, but it gives out only the installation of Windows next to the poppy axis.
I also need to organize a virtual machine with ubuntu on a separately connected hard drive. That is, I want to connect an external hard drive, run a virtual machine from it (which will spin on it) and work in it.
Is this possible and what is the best way to organize it?

Connect naturally to macbook macos mojave