Check in the policy if there are any alerts disabled related to hardware.
Also look for hardware disabled metrics.
Once enabled you can create alerts based on these metrics.
The policy looks good.
I'll see if I can create some hardware alerts based on the hardware metrics.
you can create custom policy for monitor hardware alert to check if it work for you ....
If that is not sufficient enough, you need to use management packs, if available.
So, it looks like even though I can select the faults when creating the alert definition, the alert is not working.
Just because I can see the faults when creating the alert definition, that does not necessarily mean they will work ?
The ones I am working on include power, memory and system board faults . These are for Dell servers