Just found the right ScooterWest video to answer my question. Adding the link below in case someone else is looking for how to do this.
There are two parts to the procedure:
Step 1: Initiate the calibration mode indicated by the flashing ASR light and
Step 2: Go for a short ride at a steady, specific speed until the light stops flashing.
According to Robot, ASR and its calibration procedure were introduced for 300 models in 2015. The separate ASR switch on the handlebar was added in 2018. At that time, the steps on how to initiate the calibration mode also changed.
Here is what he describes (starting @5m43s and continued 8m21s) for the 2015-17 models:
Step 1: Start the scooter. ASR light will turn off.
Step 2: Turn off ASR by pulling on and holding in a brake lever and pushing (and releasing) the start button once. The ASR light will now come on steady.
Step 4: Pull in and hold the brake lever again and then push and now hold the start button until the ASR light starts flashing. FYI: Mine started flashing after about 5s. When the light starts flashing, you can release the start button as well as the brake lever.
Note: If you don't hold the start button in until the light flashes, you simply turn ASR back on (light off) and not enter the calibration mode. So you need to hold it in until the light flashes.
Step 5: Ride the scooter at a steady 20mph speed until the ASR light stops flashing. FYI: Mine stopped flashing after about 200ft.
And just like that, the calibration is completed
Thank you Robot and ScooterWest!
Note: He only talks about 300GT"S" models in the video but, as demonstrated, my 2017 GT"V" has the same system and uses the same steps as the 2015-17 GT"S" models.