Comment # 1 on bug 1157366 from Bruce Rogers

What I see in your seabios debug log is that after the normal "Booting from
0000:7c00" the next thing printed by the bios is "In resume (status=0)", which
indicates the CPU was reset. Some something bad is happening.

Since you tie this report to the -display none option, I assume that without
"-display none", the guest boots ok?

For the record, I'm booting a Leap 15.1 guest similarly to what you have for a
qemu commandline, and don't see this problem, so more info is needed. I am
using Tumbleweed as the host OS though. (If I remember right in private
conversation, you thought the host didn't matter. Is that right?)

What additional details can be provided?

Can you try w/out using -cpu host and see if that affects the behavior?