BeyondTrust client in VM is having high CPU usage after the host of the VM got this security update

This is likely due to policy design. Try moving the computer to a group were we apply no workstyles to the endpoint:

1. Make a copy of the current policy, then disable all workstyles and apply it to the Group and computer you moved.
2. Test and validate each workstyle, and remember you can also now enable and disable individual application rules, to narrow your search in what part of policy is the issue.

Performance degradation is often caused by only using clean rules for File Hash, forcing the EPM client to calculate file hash on all files, Content Rules can have some performance degradation, so if not used disable it. 

3. Conflicts with 3rd party Security Software, like AV, DLP etc. use the KB for AV exclusions.

If you have access to a true local admin and do not have the agent protection on. I would suggest running over the  KB0017077 for Troubleshooting as it will tell you what is the cause of your issue. Above is simple way you can accomplish without a true local admin.

AV Exclusion - KB0017099, 

KR
Jens