All clouds except AWS is easy: just `modprobe ptp_kvm` and point chrony at /dev/ptp0
On AWS it depends on instance type: some older do not support it at all, some support it via the network driver, some via the kvm PTP driver.
https://en.wikipedia.org/wiki/Precision_Time_Protocol
Edit: ah, you are talking about virtual PTP, which is presumably PTP to the hypervisor instead of network servers. The hypervisor would then keep its own time in sync using GPS, network PTP or NTP.
https://kimmo.suominen.com/blog/2022/09/virtual-ptp-hardware...
Huston is one of the few people who makes leap second arithmetic readable.