Network performance issues after installing/upgrading to 12.1 on VMWare guest

I'm running into an issue where SSH sessions stall/freeze after upgrading a VMWare guest from FreeBSD 11.3 to 12.1. The issue surfaces while trying to run the ls command in a directory containing lots of files, for example. It's also pretty apparent when executing the following script:

Code:
#!/usr/local/bin/bash
for i in {1..10000}
do echo $i
done

My putty session usually just stalls between lines 2000 and 8000. On occasion it will start working again after 30 seconds or so. Otherwise, I have to restart it.

VMXNET3 support is compiled in the kernel:

Code:
device          vmx                     # VMware VMXNET3 Ethernet

The guest has open-vm-tools-11.0.1_2,2 installed.

Iperf is showing really poor performance when running in client mode on the affected guest. The performance looks great when running in server mode.

Code:
# iperf -c 10.x.x.50
------------------------------------------------------------
Client connecting to 10.x.x.50, TCP port 5001
TCP window size: 32.8 KByte (default)
------------------------------------------------------------
[  3] local 10.x.x.54 port 18909 connected with 10.x.x.50 port 5001
[ ID] Interval       Transfer     Bandwidth
[  3]  0.0-29.7 sec   128 KBytes  35.4 Kbits/sec

# iperf -s
------------------------------------------------------------
Server listening on TCP port 5001
TCP window size: 64.0 KByte (default)
------------------------------------------------------------
[  4] local 10.x.x.54 port 5001 connected with 10.x.x.50 port 21015
[ ID] Interval       Transfer     Bandwidth
[  4]  0.0-10.0 sec  6.45 GBytes  5.53 Gbits/sec


I tried setting up a brand new/clean VM with 12.1 and it's having the exact same problem.

In case this matters, the underlying hypervisor version is ESXi 6.0 and its backbone is 10Gbps copper.
 
I have same issues. My hypervisor is ESXi 6.0.
You can find more details on bellow link.
 
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