Slightly old thread, but may help. We had a similar issue with Windows Server 2012 R2 Hyper-V Host (in a failover cluster). Installed a Server 2022 VM, could net get Network card to work. Re-installed VM with 2019 and worked a treat. After running windows updates, NIC had exclaimation mark and wouldnt work. Adding the Legacy Network adapter did not resolve it, and using just the legacy adapter was not an option (100MB compared to what should be 10Gbps).
No KB4514366, KB4512577, KB5007206, or KB5005568 listed in updates.
Culprit for us was to remove KB5013941 (I did remove KB5013641 prior to uninstalling that, but doubt that had an effect as NIC still failed after removing it).
All working a treat!
...Future Failover Cluster Upgrades to Server 2022 in the pinepline now.... :/