/kind feature
/area provider/ibmcloud

User Story

What would you like to be added?

CAPI is planning for v1beta2 and there are significant enhancement in status field, We need to update status subresource to adopt to the same

We can start with updating for IBMPowerVS resources to begin with.

More information it can be found in this enhancement: https://github.com/kubernetes-sigs/cluster-api/blob/main/docs/proposals/20240916-improve-status-in-CAPI-resources.md

Example: "As a [developer/user/operator], I would like to [high-level description] for [reasons]."

Detailed Feature Description

Provide a clear and concise description of the new feature or the improvement to an existing feature.

Context & Motivation

What problem does this solve, and why is it important?
Explain the motivation behind this request. How does this feature improve the project? What specific use cases does it address?

Proposed Solution

How should this be implemented?
Describe potential approaches for implementing this feature. If possible, provide links to related documentation or prior discussions.

Alternatives Considered

Have you considered any alternatives?
List any alternative solutions or workarounds you've considered and explain why they may or may not be suitable.

Additional Information

Anything else you would like to add?
Include screenshots, references, or additional context that can assist in understanding and implementing the request.