Same issue here - Windows 7 32-bit Guest, Parallels 15.1.1, macOS Catalina Host.
Setting to 'Shared' network helps - at least it gets an IP (10.A.B.0/24). But this doesn't put the VM on the same subnet as the rest of the network (X.Y.Z.0/24).
What I found to work was to the VM Configuration, remove the Network Adapter, and then add it back in.
Setting to 'Shared' network helps - at least it gets an IP (10.A.B.0/24). But this doesn't put the VM on the same subnet as the rest of the network (X.Y.Z.0/24).
What I found to work was to the VM Configuration, remove the Network Adapter, and then add it back in.