Hello,
You cannot install WBEM on a Windows VM, we use windows WMi to access the information. Sometimes we use the terminology of WBEM/WMI together.
I would double check on the firewall on the CMS server. Also check what version of VCA you are using since newer version of SMH had their security cipher changed for security reasons... So it's recommend to use VCA 7.3.5.
Can you copy / paste the identification output of the SIm/VCRM server after making the change to the password? Under the system credentials, if you modify the creds, go to advance protocol link and make sure your only using the sign-in section and nothing in the wbem/wmi.