Edit settings shows as below on a VM -
Clicking on "VM Options" displays a red exclamation mark on the tab
VM Hardware version is above 9 and this KB https://knowledge.broadcom.com/external/article?articleNumber=320784 does not apply
VMware vCenter Server 8.x
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.