With New PowerCLI version there seems to be a lot of confusion how to upgrade it.
I followed a simple method to deploy which works 100% time.
Step 1:- Uninstall your existing PowerCLI
STEP 2: Check the Version of PowerShell against the compatibility matrix
If Your Powershell version does not match upgrade the same. I am using POwershell Version 5.0 which is compatible
Step 3:- Run Command
Save-Module -name Vmware.Powercli -Path <local file path>
This command will download the packages to your local folder.
Note:- This step needs Internet connection. If you do not have internet connection you can download the same and save it on your local disk
Once The Download is complete you can See the Packages in the folder.
Step 4: Run the following command to install the packages
Install-Module -name Vmware.Powercli
If you are using locally downloaded files include -Path parameter.
This step may take a while,
Once done you will see all the module in your powershell console and is now ready to use.