Quick and dirty:
1a) Install Factory Talk Activation Manager on the host and inside each VM. Try to get the latest version you can, just so you don't have to worry about versioning for a while. They'll say they need to match, but I've had the VM version be much newer than the host's before with no issues...until there are issues. Then upgrading the host would sort it out.
1b) Do whatever you have to do to get your licenses hosted to your host PC and visible in the host's FTAM.
2) Inside VMWare, go to the Virtual Machine Settings.
3) At the bottom of the dialog box, click "Add..." and select "Network Adapter" and "Finish".
4) In the list of hardware devices, find that network adapter and set it to Host-only. Check "Connected" and "Connect at power on".
5) Close the settings ("OK" button) and run your VM.
6) Get to the network adapter settings inside Windows. Identify the IP address of the host-only adapter. I generally rename it "LAN-Licenses" too, just so I know which adapter is which.
The following steps may look a little different, depending on your version of FTAM
7) Open Factory Talk Activation Manager inside the VM
8) Open the "Manage Activations" tab.
9) Above the "Path to Activations" box, click the "Update Activation Search Path" link
10) Click the "Add Server" button. In the new line, type in the IP address of the host PC on the host-only network. In VMWare, it will be the same IP address as the VM's local adapter but with "1" as the last octet. For example, on my current setup, my VM is 192.168.75.254 so the search path is 192.168.75.1.
Note: if you have multiple VMs on the same host, each with a host-only adapter, they will all be on the same subnet and can ping each other. The host will always be at x.x.x.1 with the guests set to DHCP.
11) Click "Save" to close the "Update Activation Search Path" dialog box
12) Click "Refresh Activations". The licenses you have on the host should show up in the list.
Steps 1-6 will be the same for Siemens Automation License Manager. The steps within the license manager are a little different but pretty straightforward. I don't have access to that software any more so I can't help you there.