After a convergence from vCenter Server with external Platform Services Controller to vCenter Server with embedded Platform Services Controller, the vCenter Server Key Management Server(s) Connection Status appears with the warning:
"Not connected (Trust not established. View Details)"
The Key Management Server(s) (KMS) trusted certificate is not retained during the convergence process.
Important: The broken trust relationship between vCenter Server and the Key Management Server(s) does not impact currently encrypted Virtual Machines.
This issue is resolved in :
vCenter Server 6.7 Update 2.
vCenter Server 6.5 Update 3.
Workaround:
Manually re-establish the trust relationship between vCenter Server and the Key Management Server(s). For more information see Establish a Trusted Connection by Exchanging Certificates.