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Posted upstream:

http://lists.gnu.org/archive/html/qemu-devel/2018-01/msg07113.html

http://post-office.corp.redhat.com/archives/rhvirt-patches/2018-February/msg00125.html

Fix included in qemu-kvm-rhev-2.10.0-20.el7

Test against qemu-kvm-rhev-2.10.0-19.el7.x86_64:
# /usr/libexec/qemu-kvm -device virtio-vga,iommu_platform=on
VNC server running on ::1:5900

Verify this issue against qemu-kvm-rhev-2.10.0-20.el7.x86_64:
# /usr/libexec/qemu-kvm -device virtio-vga,iommu_platform=on
qemu-kvm: -device virtio-vga,iommu_platform=on: virtio-gpu does not support vIOMMU yet

Verified per comment 9

Since the problem described in this bug report should be
resolved in a recent advisory, it has been closed with a
resolution of ERRATA.

For information on the advisory, and where to find the updated
files, follow the link below.

If the solution does not work for you, open a new bug report.

https://access.redhat.com/errata/RHSA-2018:1104