This answer assumes that you are using Mike Farah's yq utility (which you are, according to the error message you are showing). Andrey Kislyuk's yq is slightly different.
networkInterfaces is a list, so you can't access network or ipAddress beneath it without picking what list element to access these in.
If you only have the single element, you could use
yq '.networkInterfaces[0].network.ipAddress = "192.168.0.1"' file
That is, set the ipAddress of the network of the first element of the networkInterfaces list to the string 192.168.0.1.
To set the ipAddress of an entry with a particular id:
yq '.networkInterfaces[] |= select(.network.id == "network-1111").network.ipAddress = "192.168.0.1"' file
To use shell variables to hold the query id and the new IP number:
id=network-1111 newip=192.168.0.1 yq '.networkInterfaces[] |= select(.network.id == env(id)).network.ipAddress = env(newip)' file