I'm going to post a frame challenge answer and say that if your goal is to run MS-DOS and Windows software from the early 90s and before then you don't want to do what you propose. Instead you're better off just installing Windows 98 SE and booting (or rebooting) into MS-DOS mode for the few applications that need it. In particular trying to force Windows (for Workgroups) 3.11 to work under MS-DOS 7.1 requires various hacks and will likely result in something that's less compatible with applications.
Microsoft has always taken backwards compatibility very seriously (even today, the 32-bit version of Windows 10 will run many old 16-bit Windows applications), and Windows 98 wasn't an exception. It's predecessor, Windows 95 wasn't the revolutionary new operating system that it superficially appears to be. It was just an evolution of Windows 3.11, with a lot of new features but also with a lot of the same code. The most likely reason for an old Windows applications not to work is because of new hardware. Things like drives being bigger than the software assumed possible, or the CPU being 10 or 100 times faster. Problems that your proposed setup wouldn't fix.
For old 16-bit Windows software written for Windows 3.11 or earlier, you're just better off running them under Windows 98. No patches, no extra drivers are necessary. They won't automagically get full long filename support, as they'll still be using the old 8.3 interfaces, but they'll work just fine. If you do manage to find something that doesn't work, you'll probably need to install MS-DOS 6.22 and Windows 3.11 on a separate FAT16 partition in order to fix the problem anyways.
MS-DOS software compatibility wasn't quite as good, because Windows, including Windows 3.11, runs in protected mode and that necessarily limited what MS-DOS applications could do, and MS-DOS applications could do anything. In practice, almost all MS-DOS applications worked within these constraints, but a few MS-DOS applications require that they be run in plain MS-DOS. For those you can either change the BootGUI option in MSDOS.SYS, or select the "Restart in MS-DOS mode" from the shutdown menu. You can even set up shortcuts so do they automatically do this and launch the application.
I used Windows 98 as my primary computer for a long time after it became obsolete just because of its excellent backwards compatibility, especially for games. It's very likely all you need.