Hi Tushar,
You don't have to disable any incoming TLS versions on your VM(s) as a result of alert you received.
The alert is for any applications that interact with Azure services.
For example, say you have a web application that makes API calls to an Azure Storage account, and your application currently uses TLS 1.1. In this case you would need to update your web application before the deadline because it would stop working on November 1st.
Please click Accept Answer and upvote if the above was helpful.
Thanks.
-TP