For example for both params we have:

This delay should be set to the least delay period of an VMware monitoring item.

Someone may think that it's a mistake to have identical sentence for both, but as confirmed by wiper, that's actually correct.

Would be nice to clarify what is the actual difference to be able customize both params correctly.

Also, worth to mention that wiper said that there was an idea to move those items, which affected by VMwareFrequency param, to be collected from performance counters, so they would be actually affected by VMwarePerfFrequency.
Looks like it was not reported as ZBX, nor mentioned in ZBXNEXT-2354 .