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You'll have to ask Hetzner support but I assume that the license is meant only for your physical server and that they do not support using it in a virtual machine within the server.
If you have Windows Server 2019 DC license already, you can install Hyper-V and activate the license on VMs by following this guide: https://docs.microsoft.com/en-us/previous-versions/windows/it-pro/windows-server-2012-R2-and-2012/dn303421(v=ws.11)?redirectedfrom=MSDN
Perhaps one of these will help:
https://wiki.hetzner.de/index.php/Windows_Server_2016/en
https://wiki.hetzner.de/index.php/Windows_Server_HyperV/en --Katie