VMTools 12.3.5 adds a configuration option that can be set which may delay or prevent the BSOD or hang from ocurring. Users can add the following entry in the Virtual machines .vmx file:
guestInfo.svga.wddm.blockingPreemptEvent="TRUE"
Please refer Editing the .vmx file for your VMware Fusion virtual machine for more information on editing the .vmx file.
Guest graphics driver issue on ARM.
Currently there is no resolution to the issue. This will be fixed in a future release.
To workaround the issue, please disable 3D.