Many thanks to @sinn3r for the images.
I have now managed to get the Homeserver 4.11 running in my bare metal Proxmox VE server. Works great.
Here is a short how to:
OS: Do not use any media – guest os Linux
System: all default – SCSI controller: VirtIO SCSI
Hardrive: use standard settings (will delete it later)
CPU: 2 core
Network: set MAC address to something with 00:0A:B3:02:29:55
Confirm – Finish
In VM hardware settings delete the HDD
Use Filezilla to upload the vmdk to /var/lib/vz/images/XXX (XXX is number of the VM)
Login the pve (Proxmox machine) shell and go to /var/lib/vz/images/XXX
use this command to import disk and convert to qcow2 : qm importdisk XXX hs411_v2.vmdk local-lvm -format qcow2
Mount the disk as sata drive in the VM