I think 4.9 Gb is the memory u allocated to the Guest mechines in VMware. But, actual memory usage depends on the applications running on all the Guest mechines in VMware ( i.e showing less than 1.2 Gb in host OS Task Manager ).
U can also check this actual memory usage by opening Task Manager in Guest mechines.
Please go through the Memory Usage on VMware Workstations.
I hope this will work for you.
If you have more concerns, please let us know.
Thanks & Regards,