CONFIG_KVM_NEW_VGIC is not available for thedefaultarchitecture x86.
Result is shown for architecture arm
default or selected kernelversion does not have config value CONFIG_KVM_NEW_VGIC.
Result is shown for kernelversion 5.4.33

New VGIC implementation

configname: CONFIG_KVM_NEW_VGIC

Linux Kernel Configuration
└─>Virtualization
└─>New VGIC implementation
In linux kernel since version 4.7 (release Date: 2016-07-24)  
uses the new VGIC implementation