Based on the investigation, the ds_am process crashed due to memory allocation failure after the DSVA upgrade process was successful. It will try to restart the process but if it failed to start 8 times, the protected Guest VM will show the "Anti-Malware Engine Offline" alert status.
As a workaround, restart the Agent Service or reboot the DSVA. If the issue persists, downgrade the DSVA to version 20.0.0-3964 (20 LTS Update 2022-03-01).
The official fix will be included in the next DSA release (2022-05).