It is a general rule that very is used before ordinary adjectives and adverbs, whereas before the -ed form of verbs it should be replaced by much or very much (not very alone).
At the same time, some -ed forms have come to be treated as ordinary adjectives, and they can take very alone , e.g. tired, pleased, limited, etc. So, there may be marginal cases where the safest way to intensify an adjective or adverb correctly would be to use very much. (Longman Guide to English usage, 1988, p.754)
In your case, perhaps if there were this option, it might work fine for the test-makers:
He got to the top and was very much frustrated when he found that
someone else had reached it earlier.
And since "much" alone was the alternative, you should have stuck to the rule.
There's also a very good, in my opinion, and much more detailed explanation of the subtleties of the use of very and very much, based on the difference between past participles used as adjectives and past participles that have a passive meaning. It was provided two years ago by @Shoe, an active member of the ELU site and ESL teacher.
Here it goes word for word:
Past participles that have a passive meaning have an explicit or implicit agent.
She is admired by everyone who knows her (explicit).
Your help is appreciated (implicit, by me).
The price of petrol has been reduced (implicit, by the oil company).
Such past participles are typically not modified by very, but by very much or an alternative adverb:
She is greatly admired. (?She is very admired.)
Your help is very much appreciated. (?Your help is very appreciated.)
The price of petrol has been significantly reduced. (?The price of
petrol has been very reduced.)
Past participles used as adjectives very often describe mental or emotional states, and therefore have a person or animal as their subject. There is no explicit agent, and often not even an implicit one. Such past participles are typically modified by very, not by very much.
I'm very bored. (?I'm very much bored.)
John's been very depressed for several days. (?John's been very much
depressed for several days.)
She looked very disappointed. (?She looked very much disappointed.)
Here is the source.