I've tried this, both with libvirt and with the qemu commandline. I can have one display, or the other, but not both. No matter what I do, I get a code 43 on the passthrough device. But I'm using antique hardware (an old PCI Nvidia 8400GS), and that might be the problem.
Is this actually possible with a Linux host and Windows guest? Would you mind describing your hardware, and your configuration?
My ultimate goal is to duplicate the Spice virtual display as a duplicate/clone of the Nvidia physical display. That would allow me to run graphic-intensive applications on the hardware GPU, but still have all the convenience of a windowed virtual display.