I'm wondering if connecting a hardware wallet like a Ledger Nano S to the Ledger Live desktop app running on a computer that's connected to the internet not considered a 'fully cold' wallet setup. How about installing/running the Ledger Live app inside a VM that has the networking components disabled? I know that there is a possibility that VMs can be breached or compromised but I'm thinking that the probability of accessing the private seed or spend key would be low to non-existent.
Has anyone have experiences or research data on this subject?