Many thanks for your answer! Here are the answers to your points:
1) Yes, GAs are there.
2) I've tried only via GUIs so far (resizing window and going full-screen).
3) Yes, I tried, same result: very thin and tall display (actually seen as 1024x2880 by the guest)
4) If by this you mean the scaling factor, it's set at 100% (pixel-for-pixel matchup). At 200%, all these issues disappear since the guest never sees anything close to 4000 pixels.
5) I've started the VM, attempted full screen mode (which resulted in the 1024x2880 issue), powered down and saved the log file that is attached. I am of course unsure of what any of this means but an interesting part, confirming that the guest sees 1024x2880 instead of 5120x2880, is copy-pasted below...
00:00:55.419843 GUI: UIMachineViewFullscreen::adjustGuestScreenSize: Adjust guest-screen size if necessary.
00:00:55.419859 GUI: UIMachineView::sltPerformGuestResize: Sending guest size-hint to screen 0 as 5120x2880
00:00:55.419895 VMMDev: SetVideoModeHint: Got a video mode hint (5120x2880x32)@(0x0),(1;0) at 0
00:00:55.422918 VBVA: InfoScreen: [0] @0,0 1024x2880, line 0x1000, BPP 32, flags 0x1
00:00:55.422975 Display::handleDisplayResize: uScreenId=0 pvVRAM=0000000010e80000 w=1024 h=2880 bpp=32 cbLine=0x1000 flags=0x1
00:00:55.423109 GUI: UIFrameBufferPrivate::NotifyChange: Screen=0, Origin=0x0, Size=1024x2880, Sending to async-handler
00:00:55.428444 VBVA: InfoScreen: [0] @0,0 1024x2880, line 0x1000, BPP 32, flags 0x1
00:00:55.444490 VBVA: InfoScreen: [0] @0,0 1024x2880, line 0x1000, BPP 32, flags 0x1