bonnie201110141 it originally just said "Reinstall VMware Tools". I even tried reinstalling VMware Tools via that option in the VM menu, and it reinstalled the outdated version (11.0.6) that doesn't have DirectX 11 support. For some reason upgrading VMware Workstation from 15.5.x to 16.0 did not replace the copies of VMware Tools that were in the VMware Workstation folder, nor was VMware Workstation 16 able to find newer versions of VMware Tools for download.
I manually downloaded and extracted VMware Tools for Windows from anil2016's link (replacing the copy of windows.iso that was in the VMware Workstation folder), and after that I was able to use the Update VMware Tools option in the VM menu and confirmed it had DirectX 11 support.