I like Hyper-V but, to me, it has quirks that VMWare has been long past.
I do not like VMWare's lockout of backup tools, I feel they could provide ONLY that piece and keep the rest of the fancy tools locked up. It is basically the cost of your Windwos server to buy Essentials anyway.
I have both in production and in your shoes I would go with VMWare simply because you already have the infrastructure in place (partially).
How much of the 4TB is needed to be high IOPS? I would split your workload on 2 servers, with server A having higher speed smaller disks and Server B having larger drives. That is unless you can afford larger drives that get to your IOPS needs for both servers.