In case anyone else runs into this issue, this is a bug with Horizon View. Per VMware Support:
As covered, this is a known issue identified on the Horizon View side. It is targeted for the 7.10 release of Horizon view (tentatively Q3, but subject to change).
The only workaround is to lower the Event Settings configured in View Configuration > Event Configuration tab to as low as you can for the interval seen there.
As a side note and word of caution, be careful when you adjust the Event Configuration from 3 Months (Max) to 1 Week (Min) retention policy. The SQL DB is purged and causes extreme congestion with IO at the disk level. I also tested going from 3 Months to 2 Months (next lowest retention policy) and still had the issues of maxing out the SQL DB I/O. The solution for us was to create a new SQL DB, change the event retention to one week, and then point to the new SQL Database on the events.