The Altiris Service (AeXSvc.exe) is using a large amount of memory and CPU utilization was high also. Upgrading to RU2 didn't resolve the issue.
Confirmed that the Sym Agent and sub-agents did update on the Notification Server and Task Servers.
ITMS 8.6 RU2
This issue was fixed with our ITMS 8.6 RU3 Release. See IT Management Suite 8.6 RU3 Release Notes
If you are still in ITMS 8.6 RU2, a fix for this is available as a pointfix found in the following KB:
235538 CUMULATIVE POST ITMS 8.6 RU2 POINT FIXES
NOTE: If you are seeing similar issues on later versions of ITMS check that you have the last pointfixes for your installed version installed.
215121 CUMULATIVE POST ITMS 8.6 RTM (GA) POINT FIXES
221269 CUMULATIVE POST ITMS 8.6 RU1 POINT FIXES
235538 CUMULATIVE POST ITMS 8.6 RU2 POINT FIXES
249427 CUMULATIVE POST ITMS 8.6 RU3 POINT FIXES
261271 CUMULATIVE POST ITMS 8.7 RTM POINT FIXES
273903 CUMULATIVE POST ITMS 8.7.1 POINT FIXES
366939 CUMULATIVE POST ITMS 8.7.2 POINT FIXES
382575 CUMULATIVE POST ITMS 8.7.3 POINT FIXES