The logs below show evidence that the issue is with the driver used (FreeBSD in this case).
Logs similar to the ones below are seen in var/run/log/vmkernel.log -
var/run/log/vmkernel.log:37248:2022-06-20T05:08:24.908Z cpu52:12466787)Vmxnet3: 11403: Invalid gen bit for rq: 1, World_Handle: 0x4539b529f000
OR
2021-05-06T13:48:38.504Z cpu43:2148227)Vmxnet3: 11063: Invalid tx completion gen bit in tx queue: 0, world_handle: 0x45396d6a1000
This means that the device activation failure is due to an invalid gen bit in rx/tx queue.
From vmware.log -
2022-06-20T05:07:56.570Z| vcpu-0| I125: VMXNET3 user: Ethernet0 Driver Info: version = 65536 gosBits = 2 gosType = 4, gosVer = 0, gosMisc = 0
2022-06-20T05:07:56.571Z| vcpu-0| I125: VMXNET3 user: Ethernet1 Driver Info: version = 65536 gosBits = 2 gosType = 4, gosVer = 0, gosMisc = 0
2022-06-20T05:07:56.573Z| vcpu-0| I125: VMXNET3 user: Ethernet2 Driver Info: version = 65536 gosBits = 2 gosType = 4, gosVer = 0, gosMisc = 0
gosType is 4 implies that it is FreeBSD OS. FreeBSD has vmxnet3 network driver from the community source and has never made use of the vmxnet3 source code upstreamed to Linux or drivers from VMware.