CPU considerations
IF you set the CPU to 'host' the VM CPU will have the same set of flags as the host CPU.
If you want to do a live migration of VMs between different hosts, your VM might end up on a new system with a different CPU type. If the CPU flags passed to the guest are missing, the qemu process will stop. To remedy this Qemu has also its own CPU type kvm64, that Proxmox VE uses by defaults.