Hmmm.
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[root@tywin ~]# yum repoinfo enabled | grep Repo-id
Repository virtio-win-stable is listed more than once in the configuration
Repo-id : centos-opstools-testing/x86_64
Repo-id : centos-ovirt-common-candidate/x86_64
Repo-id : centos-ovirt41-candidate/x86_64
Repo-id : ovirt-4.0/7Server
Repo-id : ovirt-4.1-centos-gluster38/x86_64
Repo-id : ovirt-4.1-epel/x86_64
Repo-id : ovirt-4.1-patternfly1-noarch-epel/x86_64
Repo-id : qci-1.0-for-rhel-7-rpms/x86_64
Repo-id : rhel-7-fast-datapath-rpms/7Server/x86_64
Repo-id : rhel-7-server-extras-rpms/x86_64
Repo-id : rhel-7-server-optional-rpms/7Server/x86_64
Repo-id : rhel-7-server-rhev-mgmt-agent-rpms/7Server/x86_64
Repo-id : rhel-7-server-rpms/7Server/x86_64
Repo-id : rhel-7-server-tus-rpms/7Server/x86_64
I went ahead and followed your suggestions, removing, cleaning and reinstalling.
[root@tywin ~]# yum check-update
Loaded plugins: langpacks, product-id, search-disabled-repos, subscription-manager, versionlock
Repository virtio-win-stable is listed more than once in the configuration
centos-opstools-testing | 2.9 kB 00:00:00
centos-ovirt-common-candidate | 3.4 kB 00:00:00
centos-ovirt41-candidate | 3.4 kB 00:00:00
ovirt-4.1-centos-gluster38 | 2.9 kB 00:00:00
ovirt-4.1-epel/x86_64/metalink | 14 kB 00:00:00
ovirt-4.1-epel | 4.3 kB 00:00:00
ovirt-4.1-patternfly1-noarch-epel | 3.0 kB 00:00:00
(1/8): centos-ovirt41-candidate/x86_64/primary_db | 38 kB 00:00:00
(2/8): ovirt-4.1-epel/x86_64/group_gz | 170 kB 00:00:00
(3/8): ovirt-4.1-centos-gluster38/x86_64/primary_db | 80 kB 00:00:00
(4/8): centos-ovirt-common-candidate/x86_64/primary_db | 81 kB 00:00:00
(5/8): ovirt-4.1-epel/x86_64/updateinfo | 735 kB 00:00:00
(6/8): ovirt-4.1-epel/x86_64/primary_db | 4.5 MB 00:00:00
(7/8): ovirt-4.1-patternfly1-noarch-epel/x86_64/primary_db | 2.2 kB 00:00:00
(8/8): centos-opstools-testing/x86_64/primary_db | 124 kB 00:00:00
antlr-tool.noarch 2.7.7-35.el7 centos-ovirt-common-candidate
glusterfs.x86_64 3.8.9-1.el7 ovirt-4.1-centos-gluster38
glusterfs-api.x86_64 3.8.9-1.el7 ovirt-4.1-centos-gluster38
glusterfs-cli.x86_64 3.8.9-1.el7 ovirt-4.1-centos-gluster38
glusterfs-client-xlators.x86_64 3.8.9-1.el7 ovirt-4.1-centos-gluster38
glusterfs-fuse.x86_64 3.8.9-1.el7 ovirt-4.1-centos-gluster38
glusterfs-libs.x86_64 3.8.9-1.el7 ovirt-4.1-centos-gluster38
openvswitch.x86_64 2.6.90-1.el7 centos-ovirt41-candidate
otopi.noarch 1.6.0-1.el7 centos-ovirt41-candidate
otopi-java.noarch 1.6.0-1.el7 centos-ovirt41-candidate
ovirt-host-deploy.noarch 1.6.0-1.el7 centos-ovirt41-candidate
ovirt-host-deploy-java.noarch 1.6.0-1.el7 centos-ovirt41-candidate
ovirt-imageio-common.noarch 1.0.0-1.el7 centos-ovirt41-candidate
ovirt-imageio-daemon.noarch 1.0.0-1.el7 centos-ovirt41-candidate
ovirt-setup-lib.noarch 1.1.0-1.el7 centos-ovirt41-candidate
python-ovirt-engine-sdk4.x86_64 4.1.0-1.el7 centos-ovirt41-candidate
vdsm.x86_64 4.19.4-1.el7 centos-ovirt41-candidate
vdsm-api.noarch 4.19.4-1.el7 centos-ovirt41-candidate
vdsm-cli.noarch 4.19.4-1.el7 centos-ovirt41-candidate
vdsm-hook-macspoof.noarch 4.19.4-1.el7 centos-ovirt41-candidate
vdsm-hook-nestedvt.noarch 4.19.4-1.el7 centos-ovirt41-candidate
vdsm-hook-vmfex-dev.noarch 4.19.4-1.el7 centos-ovirt41-candidate
vdsm-jsonrpc.noarch 4.19.4-1.el7 centos-ovirt41-candidate
vdsm-jsonrpc-java.noarch 1.3.8-1.el7 centos-ovirt41-candidate
vdsm-python.noarch 4.19.4-1.el7 centos-ovirt41-candidate
vdsm-xmlrpc.noarch 4.19.4-1.el7 centos-ovirt41-candidate
vdsm-yajsonrpc.noarch 4.19.4-1.el7 centos-ovirt41-candidate
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It's showing that there are indeed some updated packages, and coming from the 4.1 repos, but none of the ones listed are for the engine-setup.