I'm not sure if I follow exactly. You have ePO running, what version? Are you managing any clients? Is the ePO server virtualized?
You want to setup another ePO server, for testing what exactly?
setup a new server and a test client machine, export the policies from old ePO and import to new ePO and do the testing.
Please go through the link
I have attached the zip file for steps to take the backup of epo and restore on new server with same version and patch.
NOTE: the above link process of restoring through disaster recovery snapshot server task process is supported from 5.x onwards, if you are with epo 4.6.x, go through KB66616 for DR process.