I have recently set ESXi 7.0 up with a Vsphere VM on a new HPE server ( using the custom HPE image) however while setting up scheduled tasks for my VM I noticed there wasn't a "Remediation" option under scheduled tasks for the host. The image came with lifecycle manager so the option should be there but it doesn't appear to be at all, We need this so it keeps Vmware tools up to date. Has anyone experienced this before/know how to get the option to appear?
With vSphere 7 and the introduction of vSphere Lifecycle Manager this operation changed a little bit and it is not in the same place as in vSphere 6.x. Check the next page that is really short and explains you pretty well where to find it and how to do it: Upgrade the VMware Tools Version of Virtual Machines
I think it is not necessary to reboot the VMs or Power Cycle as that is part of a way of doing automatically without the scheduled tasks. When you use scheduled tasks this will happen at the time you specify. As always i recommend if you are not pretty sure on how to do it first you can test with one VM when you select from the list and to the Schedule Task in a time that you can monitor all that happens.
However in my personal opinion we faced multiple issues with multiple customers because of them wanting to automatically update the VMware Tools. Not because of the logic not working but how the OS and the Apps react to this operations.
In some cases they faced a big downtime because the upgrade of VMware Tools giving issues to bunch of VMs.
Finally if you still want to use this functionality please make sure that you have backup of your VMs and use the newly "Rollback" feature for taking an snapshot before doing the upgrade of the VMware Tools.