Release 0.34.0-rc1: Update release version with RC1 (#7628)

# Description

Update release version with RC1

## Type of change

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Fixes: #issue_number

Signed-off-by: sk593 <shruthikumar@microsoft.com>

versions.yaml

@@ -1,4 +1,6 @@
 supported:
+  - channel: '0.34'
+    version: 'v0.34.0-rc1'
   - channel: '0.33'
     version: 'v0.33.0'
 deprecated: