If the SFP is connected to the I/O card then for sure it has to be present in show chassis hardware output. If you can't see the same in the output of "show chassis hardware" then the port in I/O card might be faulty or the SFP would have went bad.
Try inserting the SFP on a different port and check whether it is detecting or not.
Any ideas how to understand when physically device(sfp) was removed or not ? - - - In order to determine whether the SFP is connected earlier, please check the chassisd logs for removal and insertion of the modules.
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