bump. me too
is it still on?
try changing the wifi channel.
Still happening 2 years later 
Logger: homeassistant.components.yeelight
Source: components/yeelight/__init__.py:469
Integration: Yeelight (documentation, issues)
First occurred: 23:20:24 (1 occurrences)
Last logged: 23:20:24
Unable to turn the bulb on: A socket error occurred when sending the command.
Bumping this thread.