Personal Hotspot won't work (connected through cable)
Welcome to Ask Different. Is your Laptop a Mac or a PC?
If it's a Mac, you might want to check if the USB connection has not been made inactive/lower service order in Network Settings within System Preferences on the Mac.
To check, go to System Preferences&gt;Network; on the left you will see a list of connections (e.g. Wifi, Bluetooth, Ethernet, iPhone USB, etc.). If you see a green dot on those connections, it means you are connected to them.
If iPhone USB is showing as not connected, check if &quot;Disable unless needed&quot; has been enabled, and disable it if it is. Furthermore, if you have multiple successful connections, it is possible the service order prioritises the other connections over your USB connection. So at the bottom of that list, click on more options icon and select Set service order, now you should be able to reorder the connections priority to prioritise iPhone USB above wifi, ethernet, etc.

Finally, you mentioned you have reset network settings. Did you do this on your iPhone or on your laptop?
Sometimes the trust relationship between the Laptop and iPhone can be corrupted or need a reset after updating. You can reset this trust relationship in iOS settings, by going to Settings&gt;General&gt;Reset&gt;Reset Location &amp; Privacy. After resetting location and privacy settings, the iPhone will prompt you to trust the device it is connecting to. Trusting the device (laptop) will rewrite the trust relationship between the two devices.
Note, resetting location and privacy settings will prompt you to trust every other device your iPhone connects to. This should only happen on the initial connection to that device after you have reset these settings.
Let me know how you go. Best of luck!