Nothe that Im refering to code in twrvf65gs10 but it should be very similar for vf3 or maybe identical
In clocks_init you should have some seeting for the CCM_CCSR like below:
CCM_CCSR = 0x0003FF24;
which set (among other things)
CCM_CCSR[PLL1_PFD_CLK_SEL] = 0x3 ----> PLL1 uses PLL1_PFD3
CCM_CCSR[SYS_CLK_SEL] = 0x4 ----> use PLL1_PFD
The Anadig_PLL_PFD_528 might NOT be set, because using the default RESET values
From Reference Manual the reset value for pfd3_frac is:
Anadig_PLL_PFD_528[PFD3_FRAC] = 0x18 = d24
This is setting the resulting freq = 528 * 18/24 = 396 MHz, through the next path

For getting the 266MHz Frequency at PLL1_PFD3 you need to tweak the value of Anadig_PLL_PFD_528[PFD3_FRAC] close to 266MHz is
Anadig_PLL_PFD_528[PFD3_FRAC] = d36 = 0x24
PLL1_PFD3_freq = 528 * 18 / 36 = 264 Mhz
SYS_CLK = PLL1_PFD3_freq / ARM_CLK_DIV = 264/1 = 264Mhz
You can try to check if there is a better way to get a closer value to 266Mhz.
You need to tweak different values like Anadig_PLL_PFD_528[PFD3_FRAC], Anadig_PLL1_CTRL[DIV_SELECT], CCM_CACRR[ARM_CLK_DIV], etc.
You can try setting a smaller value in the PFD3_FRAC, so PLL1_PFD3 output is a higher frequency and set a higher divisor value in CCM_CACRR[ARM_CLK_DIV].