> to have a tool that is external to the VM (runs on the hypervisor host) that essentially has "read only" access to the kernel running on the VM to provide visibility into what's running on the machine without an agent running within the VM itself

Not quite what you are after, but comes close ... you could run gdb on the kernel in this fashion and inspect, pause, step through kernel code: https://stackoverflow.com/questions/11408041/how-to-debug-th....