This host does not support the required CPU flag 'avx'

Why can't the update to 2034 SP2 be performed?
What does This host does not support the required CPU flag 'avx' mean?

The appliance requires a CPU that supports the AVX2 instruction set for the new database with SP2.
Now we need to clarify why this is not the case. This could either be a very old CPU or missing / incorrect settings in a virtualization environment.
 
With Proxmox, for example, the CPU type should be set to "host".
In HyperV, the "Migrate to a physical computer with a different processor version" checkbox must not be checked in the processor compatibility.
For VmWare, the VM compatibility must be at least version 13 (the VM compatibility can be adjusted via settings, when the appliance is in shutdown state)
In vCenter, the EVC for Intel hosts must also support CPU mode from the Haswell generation onwards