Ok, additional testing.  Even though Get-VMHost stated that SR-IOV was supported, when I ran Get-VMSwitch it returns the following for both adapters:

Name                     : External vAdapter
IovEnabled               : True
IovSupport               : False
IovSupportReasons        : {This network adapter does not support SR-IOV.}
IovQueuePairCount        : 0
IovQueuePairsInUse       : 0
IovVirtualFunctionCount  : 0
IovVirtualFunctionsInUse : 0

Name                     : External vAdapter 2
IovEnabled               : True
IovSupport               : False
IovSupportReasons        : {This network adapter does not support SR-IOV.}
IovQueuePairCount        : 0
IovQueuePairsInUse       : 0
IovVirtualFunctionCount  : 0
IovVirtualFunctionsInUse : 0

Notice that SR-IOV is enabled but it states the adapter does not support it.  According to all documentation, and the BIOS on the server, SR-IOV is supported, and enabled.  

Is this a driver issue?   The driver listed for both adapters is Driver Date 2016-05-16 Version 7.13.57.103 NDIS 6.30.  Is there a different driver I should be using to enable SR-IOV?

Additional note:  When I run Get-VMHost | fl. I see the below information regarding SR-IOV displayed.

IovSupport        : False
IovSupportReasons : {The chipset on the system has errata which may cause system instability if SR-IOV is used. As a precaution, the ability to use SR-IOV has been
disabled. SR-IOV may be enabled by running "bcdedit /set {current} hypervisoriommupolicy enable" on the host. If the system exhibits instability after SR-IOV is enabled, consider restoring the default policy which will disable the ability to use SR-IOV.}

I ran the command specified above and the output changed to IovSupport : True.  Is anyone aware of a way to determine if it is actually working?

Hi,

Could you check the settings in BIOS? Also, are you running on the latest firmware in BIOS and LCC? If no, could you run updates on it.

https://dell.to/3e4vQ9w