With a new version of VMware PowerCLI 11.1.0 released, it is time to plan for an upgrade.
Even if it is simply a matter of one command in PowerShell, you need to remember that the Update-Module cmdlet does not remove the old modules from the operating system (OS). So over the time, it might look a bit messy:

Following a few threads in regards to this issue (here and here), I wrote a simple script that removes the old versions of VMware.PowerCLI and its dependencies from Windows OS.
# File name: Remove-OldPowerCLI.ps1 | |
# Description: This script removes the old versions of VMware.PowerCLI and its dependencies | |
# | |
# 21/12/2018 - Version 1.0 | |
# - Initial Release (based on https://windowsserver.uservoice.com/forums/301869-powershell/suggestions/14934876-update-module-needs-flag-to-remove-previous-versio) | |
# | |
# Author: Roman Dronov (c) | |
$modules = @((Get-Module -ListAvailable | ? {$_.Name -like "VMware*"}).Name | Get-Unique) | |
foreach ($module in $modules){ | |
$latest = Get-InstalledModule -Name $module | |
Get-InstalledModule -Name $module -AllVersions | ? {$_.Version -ne $latest.Version} | Uninstall-Module -Force -Verbose | |
} |
A few minutes later, it looks much cleaner with only the latest version of VMware.PowerCLI remaining:

Hope it will be useful for you as well.