Likewise what's to stop you from patching the operating system directly (ok secure boot)
You could also just emulate an entire windows OS + TPM and have the emulator do it it sounds like
Like any scenario where I'm allowed to run arbitrary code within the OS with administrator privileges sounds like you could escape this.
Yes, but your emulated TPM is not on the approved list. To impersonate an approved TPM you would need to pull the keys from a real TPM which requires (probably very expensive) semiconductor lab tools and trashing the chip.
Luckily I think if Chrome were to move forward with this they'd face extreme anti-trust stuff as a result