Ran into this issue for a customer running Veeam BnR 9.5 Update 4b, some quick google-fu found the following Veeam forum thread; https://forums.veeam.com/vmware-vsphere-f24/vddk-async-operation-errror-2-t58591.html

As described by Andreas Neufert from Veeam, Virtual Disk Development Kit (VDDK) is provided by VMware which is leveraged by Veeam to perform backups and other functions. In this instance, there appears to be a bug introduced in VDDK after VMware introduced “a faster way to process data over Network NBD mode (async processing)” which is causing certain VMs to fail during backup jobs.
The recommendation from Andreas is to ensure the underlying ESXi hosts and vCenter are updated to the latest builds from VMware or Veeam support can add a registry key on the VBR server which disables the new VMware processing.
Veeam will always recommend calling support to obtain the reg key, this is to ensure you are applying the registry tweak for the right reason. However, if you are confident that you are affected by this issue, the details for the reg tweak have been provided below.
The reg key is to be applied on the VBR server under ‘HKEY_LOCAL_MACHINE\SOFTWARE\Veeam\Veeam Backup and Replication’
- Type: REG_DWORD
- Name: VMwareDisableAsyncIo=1
- Value data: 0
- Base: Hexadecimal
UPDATE – Several readers are reporting the correct registry key is ‘VMwareDisableAsyncIo’ and the value data is: 1

Restarting the VBR server or the Veeam backup service is not required after adding the key.
Credit to Shawn Krawczyk on the Veeam forums (user sbk) for providing the registry tweak to solve this issue.
I think the registry key is actually:
VMwareDisableAsyncIo
Type: REG_DWORD
Default value: 0
and should be set to 1
Cody you are correct…
correct dword key name: VMwareDisableAsyncIo
value: 1
Hello good Morning.
I currently have this same error with two of my virtual machines, I have a vCenter with approx 5 ESXi clusters, if I make this registry change, do you think it could affect the other backups?
Its Work for me Version 10
For Veeam 11, we were told to do this:
HKEY_LOCAL_MACHINE\SOFTWARE\Veeam\Veeam Backup and Replication\
and here is the actual registry key
AsynchronousLogging
• Type: REG_DWORD
• Default value: 0
• Description: Enables asynchronous logging in 9.5 update 3 and above. Recommended value 1.
We will want to set it to 1.