This works well only in a few cases. If you live in an area like Pennsylvania or New York, then you're far better off with an air-source heat pump. It's cheaper to install, and the average air temperatures are warm enough for the air source to work well.
If you live in a place like Minnesota, then the ground-source pump needs a water table. Or you'll just be freezing the water in the ground. And you'll likely still be better off with an air-source pump.
The heat pump works by pumping the heat out of the ground. And the soil is a pretty good insulator, so you'll eventually just freeze the water in the soil around the pipes.
It looks like this: one day in winter, the temperature of the coolant in the loop outlet falls below 0C. And after that, it starts dropping down by about 1C a day, until the pump becomes a resistive heater. If you sized your loop correctly, it hopefully happens towards the end of the heating season.
If your ground heat system also provides cooling that's no longer a problem. I have that for my house. It's pretty great. You're basically time-shifting temperatures across the year. Cool temperatures get shifter to summer and warm to winter. The hole itself won't freeze, because you're not significantly pulling or pushing energy down it.
Even without running the AC, you generally will likely get enough heat flux from the surface and (hopefully) from the water table to thaw the ice during the summer for horizontal loops.
I don't have a personal experience with vertical loops.
If you live in a place like Minnesota, then the ground-source pump needs a water table. Or you'll just be freezing the water in the ground. And you'll likely still be better off with an air-source pump.