ddcutil can be built in a virtual machine. However, when using the built-in video drivers, loading i2_dev does not create /dev/i2c-* devices, either on VirtualBox or VMware. This is as expected, since DDC features affect the physical monitor.
It's possible that ddcutil would work if using a normal video device driver with PCI passthrough, so that the device driver is actually controlling a real monitor. This has not been tested.