Short answer is yes.
Long answer:
The i3-370M CPU that you have in your laptop should be fine as it has VT-x and EPT. I have an even older CPU (Core 2 Duo 9700) that runs 32-bit guest OS fine with VMware Player 12.5.8 on 64-bit Ubuntu host OS. The capabilities of the CPU are exposed to the guest OS. The moment you can successful install and boot up the 32-bit VM OS is already an indicator.
As for the "missing options", it might be the case the Visual Logic software has some prerequisite software that has to be installed or particular Service Pack level for the OS (in the case of old Windows OS like Windows 2000/XP).
Depending on the software vendor packaging, sometimes these prerequisites are not installed on your behalf and that you have to install them explicitly. Example of prerequisite software would be things like Visual Basic 6.0 runtime, or Microsoft Visual C++ runtime DLL, or .NET Framework, or Java runtime.
You just have to check what those prerequisites are for Visual Logic. Sometimes, these prerequisites come together with the software CD in a separate folder. Sometimes, you have to download them from Microsoft website (for VB, VC++, .NET framework) or Oracle (for Java runtime) and then install them.