Hey DanCuomo, thanks for the feedback. The conversion to SET went well. I wasn't 100% comfortable with no configuration on the switch (I did take the time to learn Cisco IOS so may as well use that knowledge 😉 ) so I simply changed my port-channel from LACP to ON. It's been working great, and I went ahead and did the 2022 upgrade a few days ago.
Now I have encountered something that is scaring me: Today I started a 2022 upgrade on another 2019 Hyper-V host, with an existing LACP team, fully expecting to see the same warning about the existence of a virtual switch on a teamed interface. Same install media, same OS build being upgraded, but for some reason I don't get the warning at all. Only difference I see is this machine also had an LBFO team for the management interface. I went ahead and changed the team to switch-independent + dynamic, changed the switch config, and did LBFO2SET which successfully got rid of the LBFO team on the Hyper-V switch.
After all of that, upgrade was successful and everything is working well.
Question: how to convert the management interface's team to SET?