To allow for 16bit monitor setting:::

access the config editor (you will need to shut the guest os down) and add
the following line, then restart, your problem should be solved:
svga.spoof16bppHost = "TRUE"
On Windows Vista, Windows 7, Windows 8, Windows Server 2012, and
Windows 2008 Server R2 hosts, look for the file in:

C:\ProgramData\VMWare\VMware_Product_Name\config.ini

Note: This folder is normally hidden by default. In order to make this folder
viewable/accessible:

Open a new folder.

Go to Tools > Folder Options.
Click the View tab, and select Show hidden files, folders and drives.
To create the file if it does not exist:
Open Notepad.

Caution: Do not use Word or Wordpad, because these editors create extra
characters in the text file that render the configuration settings that you add
unreadable.

Save a new, empty text file named config.ini in the location above.