The OpenShift Bare Metal subscription includes RHEL entitlements to subscribe RHEL VMs running on Red Hat OpenShift Virtualization. Refer below KCS:
Does OpenShift Bare Metal subscription includes RHEL entitlements for any RHEL VMs hosted on OpenShift cluster ?

The 'Red Hat OpenShift Platform Plus (Bare Metal Node), Standard (1-2 sockets up to 64 cores) | SKU MW01624F3' contains 2 child SKUs listed below:

1. Red Hat OpenShift Platform Plus (Bare Metal Node), Standard (1-2 sockets up to 64 cores) | SKU SVCMW01624
2. Red Hat Enterprise Linux for OpenShift Virtualization Virtual Machines | SKU SVC-OV-RHEL

However, the SKU MW01624F3 is not contributing to the RHEL threshold on Subscription Watch.

Please include the below SKU to contribute to RHEL Threshold Calculation on Subscription Watch:
MW01624F3 - Red Hat OpenShift Platform Plus (Bare Metal Node), Standard (1-2 sockets up to 64 cores)