I'm not actually working on it, unfortunately. There's too much risk, not enough time, and we're in the middle of migrating to a different environment where it would be an even weirder thing. But I think it's a good example of a place it could work, and it would be a lot of fun.
That's a shame, because Erlang as a unikernel already exists (as https://github.com/cloudozer/ling, unfortunately unmaintained). I'd be really keen on seeing an Erlang port to the Solo5 API, which would give you KVM/bhyve/OpenBSD vmm/Muen/others to run on.
There's some evidence of it running with rumprun (which appeals more to me than Ling -- I want to run the standard BEAM, and I want to run it on bare metal, because I can fill multiple machines and don't want to exchange an OS for a hypervisor).