First: Welcome to the community forums!
Your idea is indeed possible, but there are a few things you need to keep in mind since we are not a truly P2V solution:
1) Create the recovery media first, but in ISO format. USB pass-through and Hyper-V is not possible without 3rd party software and mostly that leads to time-outs and such
2) Create the VM, but make sure that the config (CPU/ MEM/ and especially disks) is more or less the same (The good thing about a VM is that you afterwards can lower resources if necessary so...)
3) Boot the VM on our recovery media ISO, and do the BMR (choose manual if you need to restore to a smaller disk for example)
4) After the restore, you might get into issues and possibly need a few more reboots. Don't worry too fast, you most likely still have some RAID drivers or similar from the physical box that need to be removed so perform a driver "cleanup" afterwards
Hope it helps