I have faced the same issue with Ubuntu 16.04 (xenial) at Dell Latitude E6500.
First I have updated the VB and my symptom changed. There was no option to create x64 machine at all and a user friendly message box while trying to deploy an old one.
I have found a similar story described here. And this link brought me there to the final solution.
In short words, for Dell BIOS you need to keep
Performance -> Trusted Execution = OFF