GPU passthrough to VM - driver loaded and visible, but not detected by nvidia-smi?

Hi all, I'm running a node on a laptop with that has an iGPU and a dGPU which may be relevant for this context.
The CPU is i5-7200U with UHD 620 - this is passed through successfully to ubuntu VM with HDMI output.
The dGPU is:

01:00.0 3D controller: NVIDIA Corporation GM108M [GeForce 940MX] (rev a2)

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I'm trying to passthrough only the nvidia GPU to a debian 12 VM to run ollama. As far as I can tell this is passed through successfully and I have installed the nvidia and CUDA drivers...

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