The virtual machine compatibility setting determines the virtual hardware available to the virtual machine, which corresponds to the physical hardware available on the host. You can review and compare the hardware available for different compatibility levels to determine whether to upgrade the virtual machines in your environment. For Virtual Machine Hardware version compatibility, see ESXi hosts and compatible virtual machine hardware versions list
VMware vSphere ESXi 8.0.x
VMware vSphere ESXi 9.0.x
Please see table in the reference technical document
ESXi hosts and compatible virtual machine hardware versions
https://knowledge.broadcom.com/external/article/312100/esxi-hosts-and-compatible-virtual-machin.html
Hardware features available with virtual machine compatibility settings (v4.1 to v7)
https://knowledge.broadcom.com/external/article/318970/hardware-features-available-with-virtual.html