InvalidError :
Some applications start to freak out if you disable virtual memory (the page file) because they try to reserve memory against the page file instead of forcing the OS to immediately make room in RAM.
Hibernation is another feature which may behave differently when the pagefile is disabled since memory pages written to the swap files get omitted from the hibernation file, which makes hibernation and resume quicker.
I have never come across a program that had an issue with the virtual memory disabled, but that could be a plausible scenario. However, it is not the program the controls page files, rather the OS. DRAM memory is several magnitudes (10,000x) faster than HDDs and SSDs, so disabling the virtual memory is unlikely to cause a problem unless you run out of system memory (hence why more memory is better). Modern Windows OS won't allow the lack of system memory to crash the OS as it reserves memory for this purpose, so Windows will shut down some programs when the system memory is exceeded.
Another thing to consider is the page file (virtual memory) is used primarily for non-currently used or dormant applications (think of minimized programs or stuff that runs in the background only during scheduled tasks). Therefore, disabling the page file will not affect whatever current program you are using.
Hibernation should
always be disabled on a desktop computer (non laptop). I even go so far as to disable it on my laptops, but that's a personal preference. Hibernation is also referred to as "coma mode," by the IT community. Windows Vista and 7 have a long documented history of coma mode, and even Windows 8.1 and 10 have problems waking up from hibernation.
From the command line it's a simple command:
powercfg -h off