Hi @shankar431 ,
I would say this is more of an auditing requirement and not a monitoring requirement, you can always create custom rules that monitor events related to the NTLMv1 such as event 4625.
I would however really suggest doing it some other way instead of SCOM (some other tool) as security events are written in very high frequency, especially on Domain Controllers, which may flood your SCOM environment which then again could result in a backlog.
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Best regards,
Leon