Combining 2 CPUs to 1 vCPU in VM software

Is this possible?

On my Plex server I have 2 E5-2670v2 (8C/16T) that I use for transcoding and converting movies. But since transcoding is a single threaded operation it only uses 1 of the CPU's when it's transcoding/converting.

So, is it possible to set up a VM so that it sees the two CPU's as one vCPU with 16C/32T?

I think it would see them as one cpu by default if you put them in a virtual machine, but since it is still single threaded task I don't think it will help any.

When I tested it in VMware Workstation Pro I gave the VM 2 cpus and 8 cores per cpu. The VM (Win 10 pro) then displayed 16 cores on two numa nodes. But strangely it did not include the extra threads..?

you can't.

the VM doesn't see CPUs, it see's threads (which it considers CPUs).

Transcoding via plex is SINGLE THREADED, you can just split a single thread over two CPUs.