From the vmware.log, VMware Workstation has detected Hyper-V on the Windows 11 host.
In(05) vmx IOPL_Init: Hyper-V detected by CPUID
In(05) vmx Monitor Mode: ULM
Follow the instructions in this KB in disabling Hyper-V
https://kb.vmware.com/s/article/2146361
Memory Integrity should also be OFF. (Windows Security -> Device Security -> Core Isolation).
Once Hyper-V is OFF the Monitor Mode in the vmware.log should show CPL0 (aside from the VM not crashing during power up).