Error message with colliding IP address when running vigrant up


I am trying to use Vagrant on Windows with with Homestead and VMware Workstation and am receiving the error below:

Bringing machine 'homestead' up with 'vmware_workstation' provider...
==> homestead: Checking if box 'laravel/homestead' version '12.0.0' is up to date...
==> homestead: Verifying vmnet devices are healthy...
The host only network with the IP '' would collide with
another device ''. This means that VMware cannot create
a proper networking device to route to your VM. Please choose
another IP or shut down the existing device.

Any assistance with this would be appreciated. I am unclear how to resolve this problem or what is causing it. I have no other machines running and have tried rebooting my computer. I am also unclear how these IP addresses are colliding?

Many thanks,