I would suggest you try the following steps and see if it helps:
1) Remove VMware Virtual Printer driver in Windows 10 guest via 'Applications and Features' panel.
2) If you have ever installed the driver for Brother HL-3150DW inside the guest, remove it.
3) Remove the VMware Tools.
4) Install the VMWare Tools again.
5) Click "Install Virtual Printer" option in the Virtual Machine menu and install the virtual printer driver in Windows guest.
6) Reboot the Windows guest.
No, that didn't work in my case, but I'll share something that I've just done and which works as expected. I shut down my Windows 10 virtual machine and removed the Virtual Printer Port. Then I re-created the Virtual Printer Port, restarted Windows and, voilà, it works.
I had the same experience.
I don't know how much time I wasted on this, but deleting the port did the trick.
I have just upgraded from Fusion 8.5 to 11.5 and I virtual printer disappeared. I have tried everything to bring the virtual printer back, has anybody had have a similar issue?