The following tech note should address this issue:
15029: NetSight - Traps not Being Received After Upgrade to version 4.4
Title:NetSight - Traps not Being Received After Upgrade to version 4.4
Upgrade to version 4.4 was performed.
Traps are no longer being received in NetSight Traps view.
Code missing to make sure the trap file and the SNMP mode is correct after restoring files on an upgrade.
Upgrade to NetSight Suite version 5.0 or higher.
state, in the 'Console Issues Addressed' section:
Resolved an upgrade problem that caused the trap service to not process traps in some cases. 920482
1. Start NetSight Console.
2. Select Tools -> Options -> Suite Options -> Advanced SNMP settings.
3. Check the option to use NetSNMP.
4. Save and restart the server when asked.
Edit the file /NetSight_Install_Path/NetSight/appdata/snmptrapd.conf.
Make sure that the first uncommented line is:
If it is not please add it and then start the SNMP trap service.