by @Harry Lonsdale
NOTE: MAKE SURE YOUR VM IS NOT VIRTUALIZATION BASED.
This is running UTM version 4.5.4 on macOS Sonoma 14.3.1

There is a command line program that comes with UTM that you can install on MacOS called utmctl. If you installed UTM to /Applications, utmctl should live in the location /Applications/UTM.app/Contents/MacOS/utmctl.
You should have your VM running before the following.
utmctl list to see your VM’s UUID
utmctl usb list to see your USB device’s VID:PID pair
utmctl usb connect <VM-UUID> <VID>:<PID> . For example, in my case with the above setup, the command was /Applications/UTM.app/Contents/MacOS/utmctl usb connect 4FB1781A-C9F6-4D5C-AD47-E77F1ED4F268 2676:BA05