VMware vSphere ESXi 7.x
VMware vSphere ESXi 8.x
This would occur when we have QoS enabled on storage devices on external storage which would limit the number of I/Os.
When the QoS is enabled, any additional storage activity would normally restrict the IOps which go beyond the QoS permitted limit.
Disable the QoS on storage devices which are enabled with and causing the latency.
Disabling the QoS would allow the clients to perform I/O as expected and reduce the latency.