I haven't yet had the chance to test this on the latest tech preview, but Windows Server 2022 guests with recent cumulative updates will bluescreen with UNSUPPORTED_PROCESSOR if the guest is configured with multiple vCPUs. The only known workaround is to limit the guests to a single vCPU (both socket and core), with the obvious potential performance impact.
Other users have documented this here but there's been no response yet from VMware, nor is it documented in the release notes as a known issue or in the knowledge base. It's definitely still an issue in the latest stable release (v16.2.4). Hopefully this will be fixed in the next release, and ideally should be backported to supported older releases.
If anyone with the tech preview installed is able to confirm if the issue is still present that'd be very helpful, otherwise I'll try and find some time to test myself soon.