CONFIG_KVM_ARM_TIMER is not available for the default architecture x86.
Result is shown for architecture arm
default or selected kernelversion does not have config value CONFIG_KVM_ARM_TIMER.
Result is shown for kernelversion 6.5.1

KVM support for Architected Timers


Linux Kernel Configuration
└─> Virtualization
└─> KVM support for Architected Timers

In linux kernel since version 3.1 (release Date: 2011-10-24)  

Adds support for the Architected Timers in virtual machines