One of the things I find with VM's is that allowing the host to manage the memory and CPU used on the Exchange Server VM causes major issues so
- first thing I would do is dedicate memory and CPU to that VM.
- This is even more important if you are running a bunch of VM's on the host
- I would also suggest checking to logs on the VM host as well as the VM itself to see if it logged any errors or critical events about the host or the Exchange VM
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