Joe Obbish provides a warning:
Azure VMs with hyper-threading enabled are sized according to logical cores instead of physical cores. These logical cores can perform with 50% of the power of physical cores for high levels of activity but will always perform at 100% of the SQL Server licensing cost rate. As a result, moving from a busy on-premises SQL Server VM sized to an Azure VM with hyper-threading enabled can result in a surprise SQL Server licensing bill.
Joe couches this in terms of Azure, but the licensing effect is the same for on-premises hosts as well. Hyperthreading is better than not in most scenarios, though “busy with CPU-heavy SQL Server queries” is one of those exceptions. And Joe is absolutely right right SQL Server’s per-core licensing means that you really want to bias toward physical cores versus hyperthreaded cores.