I downloaded new MSX core with diskimage creator and created VHD which I put into root folder with core file. Diskimage contains not any BIOS - on project page it allows use default - at boot it hangs. I added to diskimage also BIOS which is in downloaded package - problem the same. It is possible to use only OSD menu.
The problem is that you did not create the VDH image properly. A BIOS file is required and must be the very first file written to the disk, even before any Windows created files. Use the archive "20190520 OCM-SDBIOS Pack v2.6 by KdL" from KdL's website which contains a batch file for writing the required files to the SD card.
I found the BIOS loader is very picky. It doesn't load even from a Linux mkfs.vfat formatted filesystem. Maybe it could be improved. It's in pure Z80 assembly. VHD or direct SD card access - it doesn't matter, the core doesn't know the difference.