Super EF 2000 not running on Windows 95(98) VM

Hey I’m having a problem with Windows 95 and 98 VMs, that, for some reason, both the VMs is not working Super EF 2000 for Windows 95 (Picked for free by my Uncle in 1998 in a School on a library: Yes, it was included in a book…)… My Grandma found that on a unknown old things that she was cleaning for, and, I tried running into Windows 10 (obviously it did not work), 98 and 95 VM, and nothing worked
It just goes to this screen:

And it does nothing after that
We have a solution to this?

is it a 3d game?

yes

and the 3D acceleration is enabled

3d software does not run well in vmware or virtualbox. only simple games like WOLF3D and the og DOOM work flawlessly

oh…

With an VM Software with virtual specs like PCEM, would work fine?

I’m not sure

it does not, it loads, but it lags really more