I understand that you want to monitor you Azure VM and restart it if is unresponsive. While it would be possible to do this with ICMP, this would require a custom solution. In Azure you can monitor the VM availability metric. This tutorial walks you through setting up a monitoring alert for this. When you setup the action group you can have it restart the VM through Automation Runbook.
Let me know if this helps! If you still have questions please let me know and I will do my best to assist.
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