Starting with vSphere 7.0 Update 2, you may have noticed a new "Enable monitoring events" setting when configuring time for your ESXi hosts, whether that is using the classic Network Time Protocol (NTP) or the newly introduced Precision Time Protocol (PTP).
What exactly does this enabling this setting do? This was a recent question that I had answered internally and figured I would share the detail as the description may not be super clear. Simply put, this enables the publishing of different NTP and/or PTP operations as vCenter Server Events, which can then be used to audit time skews in your environment for compliance to troubleshooting or debugging.