If I understand it correctly, this is only occurring on this particular Guest and not any of the other ones you have. And, that when this Win 7 Guest is moved to another machine (laptop) the USB devices are also greyed out.
This would then imply that the issue is with this particular Guest. May I then suggest a couple of things:
It's not entirely clear from the description as to whether this has only recently occurred or always been the case, or whether this is a newly created VM.
However, with regards to whether it's related to the Workstations Player version . . . as an exercise I dusted off a copy of Win 7 Pro SP1, and created a VM on Workstation Player 16.2.1 and was able to present a USB drive, both with, and without the Tools installed on the Guest OS.