WinXP BSOD when run on Qemu

I have an old virtual machine on virtual box with WinXP, I converted it on raw QEMU format, I tried to run this image on Win10 and on Debian but I have this BSOD.

This is the command line on Windows I try to run it

"C:\Program Files\qemu\qemu-system-x86_64.exe" -drive format=raw,file=winxp.img -L "C:\Program Files\qemu"

My version of QEMU on Windows 10

QEMU emulator version 5.2.0 (v5.2.0-11852-g66075e5998-dirty)

This is the error message

*** STOP: 0x0000007B (0xF7A09528,0xC0000034,0x00000000,0x00000000)

Any idea?