I am using the yum module to lock the release version for a RHEL 7.6 machine to 7.7 version. However the yum --releasever option does not set the release version to 7.7. I am using Ansible 2.7.10 version.
Here is the discussion regarding the issue: 
https://access.redhat.com/discussions/4774501

ISSUE TYPE
Bug Report

COMPONENT NAME
yum --releasever

ANSIBLE VERSION
2.7.10 

STEPS TO REPRODUCE
name: installing updated packages
yum:
name: '*'
state: latest
releasever: '7.7'

ACTUAL RESULTS
Play runs successfully however it does not update the release version of the server
if compare > 0 and self.allow_downgrade:
                        downgrade_candidate = True
                    elif compare >= 0:
                        continue
                
                
                pkg = package
            
            elif spec.startswith('@'):
                if self.is_group_env_installed(spec):
                    continue
                pkg = spec
            
            else:
                
                
                
                if not set(['*', '?']).intersection(set(spec)):
                    installed_pkgs = self.is_installed(repoq, spec, is_pkg=True)
                    if installed_pkgs:
                        res['results'].append('%s providing %s is already installed' % (installed_pkgs[0], spec))
                        continue
                
                pkglist = self.what_provides(repoq, spec)
                if not pkglist:
                    res['msg'] += "No package matching '%s' found available, installed or updated" % spec
                    res['results'].append("No package matching '%s' found available, installed or updated" % spec)
                    res['rc'] = 126