To fix the error:

Unable to obtain a server-assigned IP address. Try again later or enter an IP address in Network settings.

Fire up your registry editor then head to:

[HKEY_LOCAL_MACHINE\Comm\RNDISFN1\Parms\TcpIp]

Set AutoCfg to 1

Set EnableDHCP to 0

Soft reset the device and there should be no further errors!