On the tumbleweed system, qemu-system-ppc64 -cdrom ubuntu-19.10-server-ppc64el.iso -M pseries-3.1 -hda /var/lib/libvirt/images/ubuntu19.04-ppc64le-2.qcow2 results in a successful install. So it looks as if there is a bug in qemu 4 emulation of pseries-4.1 (qemu indicates that '-M pseries' is mapped to '-M pseries-4.1). It is alternatively possible that ubuntu-19.10-server-ppc64el.iso wouldn't install on a real pseries-4.1 machine, but this seems unlikely. I will open a separate bug for this regression in qemu; https://bugzilla.opensuse.org/show_bug.cgi?id=1158111 should be used to address the problem in virt-manager which causes the failure to boot.