No. There’s no scenario where you’d create a Virtualmin account for a domain you aren’t hosting on the server.
You can either create delegation records (NS records point to the other server for your subdomain zone) or you can create A records using Manage Records. In both case, the only Virtualmin account the subdomain has is on the server where you want to host the website for the subdomain. I would probably just create A records and not delegate.