The slower ULM is to allow coexistence of Hyper-V and VMware Workstation in the same Windows host.
https://blogs.vmware.com/workstation/2020/05/vmware-workstation-now-supports-hyper-v-mode.html
Since it appears that the root VMM is used (CPL0 in the vmware.log), the absence of the PCID/INVPCID features in the AMD CPU is likely the reason why it is slow in the I/O intensive VMs. Note I/O here pertains to both network and disk I/O.
It isn't a fair statement to say that Hyper-V is better than VMware Workstation in this specific scenario unless you use the same hardware to make that comparison.
