Can you see the vmnet services(vmnet-bridge, vmnet-natd, vmnet-netifup) alive in Activity Monitor? if not, you could try to restart them by
1) Launch Fusion
2) In terminal, enter /Applications/VMware Fusion 11.1.1.app/Contents/Library
3) Execute 'sudo ./vmnet-cli --stop', then 'sudo ./vmnet-cli --start'
4) Power on guest and check the network connection
As a follow up on this problem note, we were able to resolve this problem by rebooting the host macOS operating system (10.13.6 in this case). We also created a new Ethernet virtual adapter for the VM and deleted the original adapter. This introduced some changes to the options for bridging the VM via the host's Ethernet interface, but we were able to easily re-establish the bridge option that allowed the Win7 VM to have its own IP address on the local subnet. The Release Notes for 11.1.1 did not mention any changes to networking, but it does seem that some changes were made.
I should also point out that merely restarting VMware Fusion did not resolve the problem.