When attempting to patch ESXi hosts after recently configuring download token:

vSphere 7.x
vSphere 8.x
If the configured authenticated downloads token does not have the correct entitlements for vSphere 7 or vSphere 8, it cannot download the patching software.
Reference the KB below to test if the download token is entitled for vSphere 7 and/or vSphere 8 as applicable:
VCF Authenticated Downloads Token Troubleshooting Guide
If the entitlements are configured and working correctly the issue could be due to a metadata mismatch:
Host Remediation fails with error: Cannot download VIB: ''. This might be because of network issues or the specified VIB does NOT exist or does NOT have a proper 'read' privilege set.