We are seeing this message appear about every 2-3 seconds on IOS-XE 03.07.03E. Removing and adding the "snmp-server" commands did not stop these messages from occurring.
Are you seeing high CPU utilization? (show proc cpu hist)
Are you seeing high input or output drops? (show interface counter error)
A quick follow up. I'm seeing some Google search results for this (for multiple platforms). Looks like a bug in SNMP where the process is dropping traffic.
Cisco Bug CSCul86573 seems to indicate that querying certain OIDs (or snmp-walk) may cause this.
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