As you probably know, Windows Server can be installed with or without graphical interface (Core mode).

If you don't install the GUI, then you don't have a file explorer to find and launch the VMware Tools installation file.
The only thing available is a command prompt (cmd.exe).

To install VMware Tools in a virtual machine with Windows Server in Core mode as guest, click : Actions -> Guest OS -> Install VMware Tools.

If you didn't partition the virtual hard drive during Windows Server installation, the virtual CD/DVD drive will be accessible via letter D.
In this case, run one of these files from the command prompt :

• for the 32-bit version (x86) : D:\setup.exe
• for the 64-bit version (x64) : D:\setup64.exe

If the CD/DVD drive doesn't have this letter in your case, search for it by repeatedly using the command "dir X:" (where "X" is a letter from "D" to "Z").

As expected, the VMware Tools installation wizard appears.
Note that this may appear below the command prompt. If necessary, move the onscreen command prompt or minimize it to see the VMware Tools installer.

Perform a typical installation of VMware Tools if you are using this virtual machine only with this VMware product.
Otherwise, choose "Complete".

VMware Tools have been installed.
Finally, restart your virtual machine as the installer prompts you.