Proxmox vs Hyper-V comes down to your environment. Hyper-V fits well when your operations are tied closely to Windows Server, Active Directory and Microsoft management tools.
Proxmox is often stronger in mixed environments and open-source-heavy stacks. It ships with a single web interface, built-in backup flows and storage integrations, and none of these need separate high-tier licensing bundles.
Hyper-V suits Microsoft-native environments and their compliance requirements. Proxmox is the better pick if you want flexibility, lower cost and tighter control over your virtualization stack.