Ok, there are several reasons this can happen, I will tell you all of them one at a time.
Let me explain, one reason is that windows update has a call home when your computer starts up and you login initially. The second is that Windows itself also has a further call home built into it, again trigged when you login or the internet connection
is up. There is another call home, in windows update if you download the Microsoft network adapter update (usually given for invidia lans) that one as well, has its own call home.
So, if you block any of these sites listed below, you will be connected to the internet, just not to Microsoft, which will trigger the "No internet access" exclamation point on your internet connection icon.
Sites blocked as listed that will create this issue:
www.msftncsi.com and Microsoft.com
Now that is partially the root cause of my particular issue. And could be the cause of yours.
having NLA (Network locational awareness) shut off can also cause this issue because your network adapter cannot talk to the rest of the network.
Here is how I fix it, I make sure I am not blocking either of those sites, or that my site blocking is momentarily off. Then, I unplug every single piece of networking equipment (from the power) and plug them back into the power one at a time.
Then I turn off the effected machine. I then plug each piece of networking equipment that is local to my interior network back in, one at a time and wait for them to be connected to the piece before them. Then turn the machine back on.
The issue should be resolved. If not, I suggest you remove the windows update that originally caused the network adapter issue. Then go through the process again.
