Please check the output of the following command and see if reboot is really required:
vim-cmd hostsvc/hostsummary| grep -i reboot
Check for the parameter "rebootRequired" is true or false.
It is advisable to reboot host after update as some changes may take place after reboot. If it is not asking for the reboot instantly, you may reboot it later (during downtime window). In that case changes will take effect after the reboot.
Regards,
Sachchidanand