In this paper, an advanced Wasserstein generative adversarial network (WGAN)-based bearing fault diagnosis approach is proposed to bolster the diagnostic efficacy of conventional WGANs and tackle the challenge of selecting optimal hyperparameters while reducing the reliance on sample labeling. Raw vibration signals undergo continuous wavelet transform (CWT) processing to generate time–frequency images that align with the model’s input dimensions. Subsequently, these images are incorporated into a region-based fully convolutional network (R-FCN), substituting the traditional discriminator for feature capturing. The WGAN model is refined through the utilization of the Bayesian optimization algorithm (BOA) to optimize the generator and discriminator’s semi-supervised learning loss function. This approach is verified using the Case Western Reserve University (CWRU) dataset and a centrifugal pump failure experimental dataset. The results showed improvements in data input generalization and fault feature extraction capabilities. By avoiding the need to label large quantities of sample data, the diagnostic accuracy was improved to 98.9% and 97.4%.