I got this working as follows in case someone else has limited resources for home lab.
This was done by Bridging my laptop's LAN and VMware Workstation's Host-Only adapter (vmnet6) in Windows Control Panel.
The IP address of the Bridged adapter was set in 192.168.10.0/24 network, and this adapter was connected as a port in a Firewall VM in VMware workstation from where I was able to route traffic to any required subnet, be it WAN or any other network.
Laptop LAN Network - 192.168.10.0/24
VMware Host-Only adapter (vmnet6) Network - 192.168.111.0/24
Bridged IP Network - 192.168.10.0/24 (in my case 192.168.10.1/24)
Firewall VM in VMware Workstation on vmnet6 Host-Only adapter IP - 192.168.10.4 (this was also set as the Gateway for both Dell and ESXi. This Firewall VM was set with rules to direct traffic to where needed. And as the Firewall VM had WAN (VMware Workstation NAT) traffic was also able to go out to the internet.
Now my ESXi, Dell both can communicate with VMs in my Laptop's VMware Workstation.