I would like to ask about the /etc/modprobe.d/zfs.conf
Can I change the options zfs zfs_arc_max=X parameter realtime somehow? There are running VM's and I don't would like to restart.
Running that drop_caches command _should_ free the reclaimable RAM from the ARC. There are some deficiencies in the ZFS on Linux memory management though, which could cause this *not* to happen
To set the max_size "more save" w/o a host reboot, you could just un-/ and reload zfs module, but forsure this needs to shutdown all processes which use ZFS (e.g. your VMs on ZFS pool)