I'm working on 16.04 LTS, but would like to try the
kvm/qemu/virsh version running on 18.04.
Since it takes still some time for 20.04 I wonder if it is possible to add a ppa of a later, saying modern version of the VM-package. Is this possible?
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please have a look at the Ubuntu Cloud Archive. It provides a more recent virtualization stack backported to the last LTS.
As an example it will help you get the stack of 18.04 on 16.04 as you asked. But also the stacks of 18.10, 19.04, 19.10 ... back on 18.04. It contains much more than just
kvm/qemu/virsh that you asked for, but nothing forces you to use these other bits.