This issue has been fixed as of the following releases:
Workaround:
sed -i '/StartTimeout/d' /etc/vmware/vmware-vmon/svcCfgfiles/statsmonitor.json
sed -i '/ApiHealthFile/a "StartTimeout": 600,' /etc/vmware/vmware-vmon/svcCfgfiles/statsmonitor.json/usr/lib/vmware-vmon/vmon-cli -k statsmonitor
/usr/lib/vmware-vmon/vmon-cli -i statsmonitor