Hi there,
You could simply change the IP addresses of the physical nodes first, then change the Cluster VIP. If this is a Hyper-V cluster it shouldn't affect any running VM, assuming the VMs are connected to their own virtual switch and it is not shared with the host OS.
When changing IP Addresses on a Cluster, always change the IP Addresses of the nodes first. The reasoning is that Cluster detects "networks" and assigns clustered IP Addresses to a network. It also does not allow an IP Address that is not a part of the network to be set to it.
Some useful article links that might help you in getting some insights are listed below
https://techcommunity.microsoft.com/t5/windows-server-for-it-pro/how-to-change-the-ip-of-windows-faiolver-clustering/m-p/1742116
Change the IP Address of a Failover Cluster Instance https://learn.microsoft.com/en-us/sql/sql-server/failover-clusters/windows/change-the-ip-address-of-a-failover-cluster-instance?view=sql-server-ver15
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