The advanced configuration option /Power/PerfBias is meant to let you adjust the value of the Intel Performance Energy Bias Hint register that is used in the Custom power policy.
Starting in ESXi 6.5, the default is a special value that instructs the vmkernel to automatically determine the register setting according to logic in the Balanced power policy.
This is a known issue affecting VMware ESXi 6.5.
This issue is resolved in VMware ESXi 6.5 Update 1, available at VMware Downloads.