After you replace the indicated hardware memory module the ESXi Hardware Status sensor error still does not clear.
If you check in Vcenter under the ESXi host -> Monitor -> Hardware Health -> Storage Sensors it lists the message “Memory The physical element is failing”.
To fix go to the System Event Log tab and select “RESET EVENT LOG”.
More info on VMware KB article: Warnings in the Hardware Status tab of an ESXi host fail to clear (2061093) - https://kb.vmware.com/s/article/2061093