esxupdate --loglevel=DEBUG --bundle oem-dell-openmanage-esxi_6.1-0000.zip update

ESXi 5.x:

esxcli software vib install -d /vmfs/volumes/.../Dell_OpenManage_ESXi500_OM700-offline_bundle-643291.zip

esxcli software vib update --depot /vmfs/volumes/.../Dell_OpenManage_ESXi500_OM700-offline_bundle-643291.zip