I have solved this issue.
There are a couple of errors in the MOF compiler directives and a file is missing from the shared provider components.
Here is what you will need to do.

Edit the roleauth-schema compiler directive to include the VMware_Identity class definition using

nano /var/pegasus/vmware/install_queue/3_files/mofs/root/PG_Interop/roleauth-schema.mof

Add the bolded line above the pre-existing member directive.

#pragma include ("VMware_Identity.mof")
#pragma include ("VMware_IdentityMemberOfCollection.mof")

It also needs to be added in the standard cimv2 path.

nano /var/pegasus/vmware/install_queue/3_files/mofs/root/cimv2/roleauth-schema.mof

#pragma include ("VMware_Identity.mof")
#pragma include ("VMware_IdentityMemberOfCollection.mof")

Copy the missing file from the stardard cimv2 path to the shared path.

cp /var/pegasus/vmware/install_queue/3_files/mofs/root/cimv2/VMware_Identity.mof /var/pegasus/vmware/install_queue/3_files/mofs/root/PG_Interop/

Stop and start the service with these commands.

/etc/init.d/pegasus stop
/etc/init.d/pegasus start

Once the scripts completes the install_queues will be empty and the service will start much more quickly.

Enjoy!