Ribbon: It depends. Are you going to be adding and removing sections to the Ribbon? Both while running and from a development standpoint. If yes to either, then break apart the ribbon into View/ViewModels as appropriate. If no, then just make one View/ViewModel for the entire Ribbon region.
Yes, you want individual View/ViewModels for these sections. Can consider DockPanel as well for means to establish the components.
I would have a MenuRegion for the Ribbon, and Workspace region for below. In the Workspace View, I'd create the layout and assign each to its own Region which has the corresponding View/ViewModel.