From the log, it looks like the Windows 11 host has Hyper-V enabled.
2021-11-04T12:48:09.587-05:00| vmx| I005: IOPL_Init: Hyper-V detected by CPUID
2021-11-04T12:48:09.654-05:00| vmx| I005: Monitor Mode: ULM
Remove services that rely on Hyper-V and Hyper-V itself.
Follow the guide here https://kb.vmware.com/s/article/2146361
Hyper-V removed the Monitor Mode in the vmware.log should show CPL0 instead of ULM.
