Yes, ViaWorks Locator is well suited for installing and running on virtual machines like VMWare or Hyper-V.
One of the advantages of running on a VM is the flexibility in managing & controlling system resources. During first time indexing, you may want to allocate a greater amount of memory and/or CPUs to get the job done as quickly as possible. Then, when the initial indexing has completed, the system will require significantly less resources.
See also
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