Update: Patch 20210525 brings CDP support for 7.0 U2
The long-awaited patch for Veeam Backup&Replication v11, which brings support for vSphere 7.0 U2, has been released.
It's important to note that CDP won't work with 7.0 U2 as there's a driver signing issue. So if you're working with Veeam CDP then you still should wait before updating.
Added VMware vSphere 7.0 U2 support including new vSphere API version awareness and virtual hardware version 19 compatibility. Note: CDP functionality is not yet supported with vSphere 7.0 U2 due to the I/O filter drivers signing infrastructure issue at VMware, support will be added in the next cumulative patch.
More information on the vSphere 7.0U2 support can be found in the forums: https://forums.veeam.com/vmware-vsphere-f24/vsphere-7-0-u2-support-t72668.html