PowerCLI error after vCenter Server upgrade

After upgrading to vSphere 6.7, a PowerCLI script aborts with this error message:

The vCenter Server is unable to decrypt passwords stored in the customization specification.

To resolve the issue, retype the password in the VMcustomization specifications (under Policies and Profiles). Edit the customization specifications and retype the password under the following two preference points:
- Administrator password
- Workgroup or domain