I'm referring to the Wikipedia page about virtual memory, the last paragraph in Usage section:
Embedded systems and other special-purpose computer systems that require very fast and/or very consistent response times may opt not to use virtual memory due to decreased determinism; virtual memory systems trigger unpredictable traps that may produce unwanted and unpredictable delays in response to input, especially if the trap requires that data be read into main memory from secondary memory. The hardware to translate virtual addresses to physical addresses typically requires a significant chip area to implement, and not all chips used in embedded systems include that hardware, which is another reason some of those systems don't use virtual memory.
However, for example in the CodeWarrior IDE (used with NXP MCUs) or the STM32 Cube IDE (used with STM32 MCUs), we can see memory monitors of virtual memory, like this one:
How do microcontrollers deal with memory addressing and memory address translation? What is this "significant chip area"?