From the documentation: https://docs.vmware.com/en/VMware-Fusion/11/com.vmware.fusion.using.doc/GUID-ECE9C823-8EE2-44AB-A72B...
Another way is to use the Finder and Spotlight to show where every virtual machine bundle resides on your Mac. It assumes that Spotlight is indexing all the locations on your Mac.
Open a Finder window, and type "kind:vmbundle" in the search field.
Make sure that "Search: This Mac" is showing.
What you will get is something like this:
These are all the virtual machines you have on your Mac, regardless of where they are. Highlighting one of the virtual machines will show its folder path in the path bar at the bottom of the window.