Yes, this will work fine.
I'm assuming you will create a Windows VM on one Linux box (KVM, VirtualBox, VMware, whatever), then install Windows 10 into that VM. When Windows is installed and boots, it will get activated *in that VM image*, which is 100% supported by Microsoft. Don't p2v. If this VM is stored on a removable media, you would just shut down the VM, unplug the media, move it physically to a different Linux host, plug it in, then boot the VM.
Windows will still think it's running on the same VM, *because it is*, and thus not need reactivation.
If the two Linux hosts have different CPUs (keep the same manufacturer and gen) you should have no problem. Everything else about the VM is encapsulated - BIOS version, motherboard, devices, etc. The versions of the virtualisation software should be the same or as similar as possible. Obviously don't try to boot a VM on VirtualBox on one host and KVM on another host.