I guess we are talking about Hyper-V Host disk latency, correct?
Anyways, it`s not good to see the alarm frequently turning on since that is one of the most important metrics.
Do you have VM memory alarms turning on in the same time? If yes, increase VM memory. That will allow more OS caching, thus can reduce I/O activity. It may require to increase the host memory, however. Increasing memory might reduce the need to store data because databases can utilize system memory to cache data and avoid disk access.