Consists of EXEs/DLLs, which does the actual Denuvo bypassing + other additional DLLs, like Goldberg Steam emulator to get past the underlying Steam protection.
Those files work only for specific game versions, for which they were made. They won’t work on different game version or other games.
So I guess they still need to do some manual cracking instead of just “running it with Hypervisor”. Looking at the amount of Hypervisor repacks by FitGirl that are upcoming or have already been released, it seems it does make the cracking much easier. (I don’t know specifics though).
Have a read: https://fitgirl-repacks.site/hypervisor-guide/
Under “What’s inside those cracks?” answer #2:
So I guess they still need to do some manual cracking instead of just “running it with Hypervisor”. Looking at the amount of Hypervisor repacks by FitGirl that are upcoming or have already been released, it seems it does make the cracking much easier. (I don’t know specifics though).