Hi Affan,
My projects have done as a separate instance of SAP HANA on SAP EM. Please find below SAP OSS notes. You can create OSS message and check with SAP.
1778607 - SAP HANA Live for SAP Business Suite
SAP Note 1931303 and 1918524 for installing SAP HANA ANALYTICS FOR EM 1.0
SAP Event Management, Hardware Sizing and Its Features.
Regards
GGOPII