After upgrading to ESXi 7.0 Update 2 or later, you might notice that virtual machines have increased %VMWAIT values in esxtop, the amount should decrease with higher levels of VM utilization, i.e. it is more likely to be high on idle VMs.
In vRealize Operations (vROps), this metric maps to "CPU | IO Wait (%)" (wait minus idle and swap wait) and virtual machines might trigger the "Virtual machine has CPU contention due to long wait for I/O events" alert.
This is a cosmetic accounting issue in which not all of the time vCPUs are halting is correctly attributed to IDLE.