Computation of moving average latency are added for NFSv3 from ESXi7.0 and NFSv4.1 from ESXi7.0 Update 1. The following log entries related to performance deterioration and improvement, and can be observed in the /var/run/log/vmkernel.log, if there is changes in the latency in the environment.
Note: Similar logs will be observed in vmkwarning.log and vobd.log and also with NFSv4.1 volumes.
These logs indicate that the latency is occurring outside of ESXi. The root cause is a significant latency condition originating on the external NFS storage target or its network path.
To resolve this issue investigate the environment outside of ESXi for the source of the latency. Troubleshooting should focus on the network path to the NFS target and the performance of the storage array itself, as the ESXi logs confirm the issue is external to the host.
Below information is from NetApp
NetApp have a feature on ONTAP storage called Elastic Sizing which seem to have stopped working during the issue.
NetApp KB on Elastic Sizing