TLDR: Turning on full debugging worked around the problem in my VMs that were locking up.
I created a new VM in 16.2.0 from a recent Win10 ISO to see if it would have the same issue. Windows setup and installation of VMWare Tools worked fine, but as soon as I ran Windows Update for the first time, this new VM locked up like my older one has been doing. In order to have some more information to report about the problem, I set "Gather Debugging Information" to "Full" and checked "Log Virtual Machine process periodically". I haven't had a problem with this VM since, and I went back and changed the settings in my old VM and got the same (good) result.
