This issue (as well as the ntg3 driver issue) is fixed in ESXi 7.0 Update 3m build-21686933 released TODAY 2023-05-03
From:
https://docs.vmware.com/en/VMware-vSphere/7.0/rn/vsphere-esxi-70u3m-release-notes.html
PR 3164897: After an upgrade to ESXi 7.0 Update 3l, some ESXi hosts and virtual machines connected to virtual switches might lose network
After an upgrade to ESXi 7.0 Update 3l, some ESXi hosts, their VMs, and other VMkernel ports, such as ports used by vSAN and vSphere Replication, which are connected to virtual switches, might lose connectivity due to an unexpected change in the NIC teaming policy. For example, the teaming policy on a portgroup might change to Route Based on Originating Virtual Port from Route Based on IP Hash. As a result, such a portgroup might lose network connectivity and some ESXi hosts and their VMs become inaccessible.
AND
PR 3182870: After upgrading the ntg3 driver to version 4.1.9.0-4vmw, Broadcom NICs with fiber physical connectivity might lose network
Changes in the ntg3 driver version 4.1.9.0-4vmw might cause link issues for the fiber physical layer and connectivity on some NICs, such as Broadcom 1Gb, fails to come up.
This issue is resolved in this release. ESXi 7.0 Update 3m provides ntg3 driver version 4.1.9.0-5vmw. The fix also adds a module parameter, fifoElastic, which you can enable in case of jumbo frame drops in certain Dell switches. To enable the parameter, use the following command:
esxcli system module parameters set -p 'fifoElastic=1' -m ntg3
If you are already experiencing this problem with Teaming and Failover load balancing due to applying 7.0 U3l, I do not believe that applying new release 7.0 U3m will revert any now-incorrect teaming policy back to what it was prior to your application of 7.0 U3l - you will likely need to do that manually. But honestly I have not yet applied U3m so I cannot say for sure.
