I thought I’d add my experience here, in case it’s useful.
My title is “Senior QA Manager” and currently, I line manage 9 people (mix of SQA and SDETs) who are spread across 6 agile** development teams. Each of those teams has a Development Manager, who line manages the developers in the team and the overall development work, along with a Product Manager.
I line manage those who test and provide direction and guidance on all things test, while also helping out with industry specific knowledge that I have accumulated over the years.
My boss is Director of QA who reports to the VP of Software Engineering.
I’ve always been a strong advocate for QA to not report to development managers. This gives us more autonomy and prevents some situations where QA may not want a release to go but are overruled by their line manager who happens to also be the dev manager. I had this in a past company, it was deeply unpleasant.
My team is given direction and guidance, but is ultimately responsible for the testing of development work on their team. I of course help out here and there, especially with onboarding, but generally leave them to it.
I have either 30 minute 1:1’s every week or 60 mins every other week, their choice which so as to keep abreast of everything going on. They can and do reach out at any other point in the week too.
I do all their goal setting and annual review process. As I’m not in their teams, working with them day to day, I rely heavily on 360 feedback tools (something my company actually makes and sells) to get a good view on how they’re doing. I really cannot stress enough the value of open, honest feedback from the people you work with every day. The more regular the better.
The rest of my role is as an SME, general neigh-sayer and management botherer. Not just as a QA individual but as someone who’s been around a bit (9 years at this company at the moment). I spend time in meetings, high level planning or reading documentation/specs so that my team don’t have to. I grease the wheels, remove blockers, problem solve etc. And if I’m lucky, I get to lose myself deep in a Postman collection on occasion.
My logical progression would be to the Director of QA role, and then possibly a VP role? Something that may happen at some point, but I’m not in a rush.
Hope that’s useful in some way 
**each team is a slightly different version of someone’s interpretation of agile/Agile.