We only certify operating systems that SQL Anywhere directly runs on. Windows Hyper-V should not pose a specific compatibility issue itself, assuming you are hosting SQL Anywhere on a supported operating system, and Windows Hyper-V acts in a transparent manner to the supported operating system. For operating system virtualization products, we expect the virtualized operating system to behave in the same way as a direct hosted operating system would.
If you open a technical support case for a problem with the database server in a virtualized environment, if we determine that there is a difference in database server behaviour only due to the operating system virtualization product, we may ask that you attempt to reproduce the database server problem behaviour on real hardware to see if it is only an artifact of the virtualized environment. If it is, we can work with you and your virtualization vendor to try and isolate the issue further, although the ultimate resolution may be in the hands of the virtualization vendor.
A side note is that we do not guarantee performance of the database server running on a virtualized machine, due to the shared nature of underlying hardware resources.
From a supported Microsoft Windows operating system perspective, SQL Anywhere 7.0.3 is only supported on Windows 95/98/ME, NT 4.0, 2000, and XP.
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