Despite MS's installer claiming otherwise, only TPM 1.2 or newer is required by Windows 11. Also I'm running Windows 11 in a KVM virtual machine an older server that has zero support for TPM of any kind, using an emulated TPM. Seems to me to run on older hardware, MS could have provided a light-weight hyperV shim that could provide the TPMv2 to windows. Assuming that the implementation of the emulated TPM would be completely inaccessible to the VM itself, enough security remains against malware, etc.
Meanwhile promoting full-disk encryption using the TPM is a sure-fire way for average windows users to lose data. Yes MS has ways of backing up the key to your MS Account (yeah that's secure), and locally, but if someone drops off their dead computer and wants me to pull data off the drive, I simply can't do it easily. I've already seen more than a few people lose all their pictures on their iPhone because of encryption and getting locked out of their device. I'm sure avoidable if they had only taken the right steps. But I digress.