Any manual adjustments/changes made to the vCenter configurations will retain in case of vCenter server updates ( i.e. patch updates ) , but will revert back to defaults in case of vCenter server major Upgrade (e.g. upgrading vCenter server from 7.x to 8.x version) as we don't export all configs during the upgrade.
Example: Post vCenter server upgrade from 7.x to 8.x , "dns-forward-max = 1024" value in /etc/dnsmasq.conf file on vCenter sever was reset back to default 150
Make note of any such manual modifications and re-apply post upgrade.