qemu-img for Windows

Convert a QCOW2, RAW, VMDK or VDI image to VHDX:

qemu-img.exe convert source.img -O vhdx -o subformat=dynamic dest.vhdx

Download OpenWRT: https://archive.openwrt.org/releases/22.03.1/targets/x86/64/openwrt-22.03.1-x86-64-generic-ext4-combined.img.gz

qemu-img.exe convert openwrt-22.03.1-x86-64-generic-ext4-combined.img.gz -O vhdx -o subformat=dynamic openwrt-2203.vhdx