Symptoms:
Invalid network adapter configuration in VM's vmx file causes this problem
The above setting was configured to vmxnet instead of vmxnet3.
Take a backup of .vmx file of the impacted VM and change the "ethernet1.virtualDev" to vmxnet3 if it shows otherwise for a vmxnet3 network adapter.
OR
(Recommended) Remove the affected network adapter from the VM and re-add it.
Impact/Risks:
Unable to manage Virtual Machines via the vSphere Client.