You should be able to determine from Device Manager in the Windows VM if the USB devices are recognized after "connecting" them through Fusion.

I went to Sonnet's site and found a driver download for the device. The release notes indicate that they have a drivers for

E. Supported Operating Systems
==============================
This release can be installed on the following operating systems:

- Windows 10 (S) v1607 and later (64-bit of Intel/AMD)
- Windows 10 & 11 (S) (64-bit Qualcomm Snapdragon and Microsoft SQ2) via INF package only
- Windows 11 (64-bit of Intel/AMD)

The Snapdragon and SQ2 are ARM processors. This indicates to me that they have drivers for Windows 11 ARM.