Unable to update Woocommerce Product Permalink

Add this code to your functions.php–

add_action( 'init', 'the_drmatist_category_base' );
function the_drmatist_category_base() {
// Remember to flush the rules once manually after you added this code!
    add_rewrite_rule(
    // The regex to match the incoming URL
        'news/([^/]+)/([^/]+)/([^/][^f][^e][^e][^d]+)(/[0-9]+)?/?$', //here my changes to exclude 'feed'
        // The resulting internal URL
        'index.php?product_cat=$matches[1]/$matches[2]&name=$matches[3]&paged=$matches[4]',
        // Add the rule to the top of the rewrite list
        'top' );
}

Then Save Changes on you Permalinks settings page and then try again please. And let me know what happens.