I don't get it. Why is the snapshot feature reserved for the paid version? I really don't get it. It's one of those super important features that should be free. What if the virtual machine gets ransomware? What if you decide to experiment with the virtual machine? Why make snapshots a paid-only feature? This is probably one of those tricks to make you want the Pro version, isn't it?
To be clear, Player is only free for non-commercial use - those who use it in a commercial sense pay for their license.
So this is actually a Player vs Pro question, rather than a free vs paid question.
Not saying it’s a bad question, just adding that clarity.
Well, since to your host, a virtual machine is merely a set of files, you can ALWAYS make a point-in-time backup of your VM. Simply make sure it is powered off (and guest OS is shutdown, not just paused/suspended). Close out of Player. Use Windows Explorer to browse to the folder for the VM, and zip up the contents. I usually add the date to the name so I can keep multiple copies and easily know which was which.