I am not an employee of VMware.
To be clear I suspect it is the Spectre variant 4 (Speculative Store Bypass) that has caused the slowdown.
https://portal.msrc.microsoft.com/en-US/security-guidance/advisory/ADV180012
There are four major Spectre variants. Spectre variant 3, aka Meltdown or rogue data cache load, does not require an Intel CPU microcode update. There is also Spectre variant 3a.
Microcode updates usually come in the form of the a BIOS/EFI firmware update of the physical machine. VMware has provided microcode updates for certain CPUs (Sandy Bridge and newer) through ESXi VIBs. Microsoft also provided microcode updates for Haswell and newer CPUs. If I am not mistaken, the microcode update can be updated through Linux OS updates. The microcode delivery through Microsoft Windows and Linux OS updates allows machines that no longer have BIOS/EFI updates from the system vendor to be updated. Apple also provided microcode updates through macOS updates.
One way to check the Spectre microcodes updates is to look at the vmware.log of any VM the value of EDX register CPUID leaf 7. I don't have a machine that has the microcode update for Spectre variant 4 yet. This is from the vmware.log of a VM running Fusion 8.5.10 on a MacBook Pro.
vmx| I125: hostCPUID level 00000007, 0: 0x00000000 0x000027ab 0x00000000 0x0c000000
It has the microcode updates for Spectre variants 1 and 2 but it does not have the variant 4 microcode update that is why bit 31 is 0 for the EDX register while bit 26 and 27 are 1.
If you are not familiar with the VMware ESXi patches with regards to Spectre variants 1 and 2, I'd suggest you look at this KB.
https://kb.vmware.com/kb/52085
Sorry I am not clicking on that link you provided and I won't try those tools. Microsoft has provided similar tools in the form of Powershell scripts to check Spectre and Meltdown status. And they also provided information on how to disable them at the Windows OS level.