Since your running ePO 5.1, I would probably advocate for building a new VM in Azure, while still utilizing the VMware VM for production. Or try and convert. Something like:
1. Perform ePO snapshot task
2. Build new VM in Azure
3. Restore ePO/DB on new VM via snapshot files
4. Configure as needed while still using VMware VM for production until you get this setup
Remember, The Agent uses either the last known IP address, DNS name, or NetBIOS name of the ePO server. If you change any one of these, ensure that the Agents have a way to locate the server. The easiest way to do this is to retain the existing DNS record and change it to point to the new IP address of the ePO server. After the Agent is able to successfully connect to the ePO server, it downloads an updated SiteList.xml with the current information.