As far as the programs running in the VM are concerned, the only things that exists are the “fake” hardware that the hypervisor simulates for the VM. It’s pretty hard to copy stuff to/from a hard drive when every tool you can reach says said hard drive doesn’t exist!
Of course, running on the same physical hardware *does* have security implications, this is what is especially problematic about [Spectre, Meltdown](https://meltdownattack.com/) and [Rowhammer](https://en.wikipedia.org/wiki/Row_hammer) – they provide a way to sneak information into/out of supposedly isolated environments that run on the same hardware.
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