If you have ArcMap and you are on maintenance you also have access to ArcGIS Pro. As far as I can see the creation of vector tiles is not possible using ArcMap. You will have to use ArcGIS Pro: Author a map for vector tile creation—ArcGIS Pro | ArcGIS Desktop
from Xander's link, even the alternatives would limit you
Alternatively, you can use the Create Vector Tile Package tool. This tool will generate a complete vector tile package, a .vtpk file from a map or a basemap. You can then share and use the vector tiles in ArcGIS Online or ArcGIS Enterprise.