A vSphere Distributed Switch (abbreviated as vDS or DVS, interchangeably) indicates "Upgrades Available" in the UI
VMware vCenter has been updated to a current release.
All hosts using the DVS have been upgraded to the same release of VMware ESX.
The current version of the DVS is 6.6 or greater.
Resolution
As with any other change that affects your environment, it's recommended to perform this change in a maintenance window.
After distributed switch version 6.6, the upgrade is considered to occur without disruption, but there are a few milliseconds where packets could be lost.
Precautionary measures that can be taken before the upgrade:
Set DRS to Manual for all clusters with hosts using the DVS being upgraded: Edit Cluster Settings