Funciona para mim:
# truncate -s10G a
# losetup /dev/loop1 ./a
# echo 0 $(blockdev --getsize /dev/loop1) linear /dev/loop1 0 | dmsetup create test
# pvcreate /dev/mapper/test
Writing physical volume data to disk "/dev/mapper/test"
Physical volume "/dev/mapper/test" successfully created
# vgcreate test /dev/mapper/test
Volume group "test" successfully created
# lvcreate -n test -L1G test
Logical volume "test" created
# dmsetup table test test-test
test: 0 20971520 linear 7:32 0
test-test: 0 2097152 linear 253:21 2048
# ls -l /dev/mapper/test /dev/mapper/test-test
lrwxrwxrwx 1 root root 8 Jul 24 14:05 /dev/mapper/test -> ../dm-21
lrwxrwxrwx 1 root root 8 Jul 24 14:05 /dev/mapper/test-test -> ../dm-22