Team Fortress 2 has run on Valve Anti-Cheat (VAC) since 2007, and its history is a useful look at how a lighter anti-cheat handles hardware.
How VAC treats hardware
VAC is primarily signature-based — it looks for known cheat modifications rather than leaning heavily on a hardware fingerprint. For most of TF2's life, hardware bans were not really part of the picture; Valve added more hardware weighting later, after waves of botting. Even so, VAC stays far lighter than kernel anti-cheats like Vanguard or Easy Anti-Cheat.
What a ban looks like
Most VAC bans in TF2 are signature bans tied to the account. Hardware-level bans exist but are far less common, and usually involve repeat, flagrant cases. Compared with Riot or Epic, Valve pursues hardware matches much less aggressively.
The honest advice
Because VAC is lighter, recovering from a ban here is more straightforward than on a kernel-anti-cheat game. But that is not really the point worth making. A TF2 account with years of items, achievements and friends is usually worth far more than anything a cheat would get you — the genuinely sensible move is not to risk it in the first place.