<p>Drawing on cumulative disadvantage theory, this study examined whether pregnancy loss history is associated with differences in the long-term networks between depression and functional disability among middle-aged and older women. Data were drawn from the 2011, 2013, 2015, and 2018 waves of the China Health and Retirement Longitudinal Study (CHARLS), linked with the 2014 Life History Survey. A total of 1,775 female participants aged 45 years and older were stratified into a pregnancy loss group (<i>n</i> = 507) and a no pregnancy loss group (<i>n</i> = 1,268). Cross-lagged panel network (CLPN) analysis was used to estimate symptom-level associations across three longitudinal intervals, and network comparison tests (NCT) were used to evaluate between-group differences. The results showed that no significant group differences were found in the contemporaneous networks at any wave. However, the CLPN structure of the pregnancy loss group differed significantly from that of the no pregnancy loss group in the 2015 to 2018 interval, with the pregnancy loss group also showing numerically higher global strength. Across all waves, DEP3 (“felt depressed”) held the highest strength centrality in both groups. In the CLPNs, symptoms related to functional disability were the primary bridge nodes in the pregnancy loss group, while DEP4 (“everything was an effort”) also remained the second highest bridge role. These findings are consistent with a cumulative disadvantage perspective and suggest that pregnancy loss history may be associated with differences in mental–functional health dynamics that emerge in later life.</p>