This procedure works with fully virtualized VMs. I would assume it works with paravirtualized VMs as well…
Shut down and power off your VM
Unplug and re-plug your USB device to see what it appears as in dmesg, then run dmesg | grep ^usb
See these lines?: usb 3-2: USB disconnect, address 7 usb 3-2: new low speed [...]

