I'm having this issue too. It happened to both of my Windows VMs yesterday. I tried everything from DHCP release/renew, disable/enable the adapter, rebooting, shutdown and start. The only thing that fixed it in the end was to reboot the entire Mac OSX.
I tried installing a brand new Windows 10 v2004 VM from scratch. This too - once it got to the desktop had no network connectivity. As above - nothing but a full Mac OSX reboot would make the issue go away.
Been using Parallels for years and I've never had this before.
Also today I started my VM and the same issue. No network connectivity inside the VM. This time just rebooting the VM was sufficient to make it work again.
@GowthamR@Parallels - can you explain the reasoning behind changing the setting to Intel 1000MT NIC? Has some sort of stability issue been found with the Intel Gigabit CT (82574L) NIC?
For observers we are talking about the setting here:
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