By default, Hyper-V doesn’t let you create a vSwitch on a Teamed NIC, to do this we need to create the vSwitch manually using PowerShell.
New-VMSwitch -Name "{vSwitch Name}" -NetAdapterName "{NIC Team Name}" -AllowNetLBFOTEAMS $true -AllowManagementOS $true
Source: https://community.spiceworks.com/t/windows-server-2022-nic-teaming-and-hyperv-switch-issue/834758