Unable to Connect to Server on M1 from Windows 10

I've got a development environment where we run a web server locally on the Mac-side and hit that service from within an app running in Parallels/Windows 10. With previous versions running on a legacy/Intel processor, it was a matter of editing the hosts file in Windows and aliasing the target domain to the IP address of the instance. With 16.5/Windows 10 on the M1 this no longer works.

Example: We would add "10.211.55.4 web.somedomain.com" to the hosts file within Windows, and then subsequent requests to http://web.somedomain.com:3000 would resolve correctly to the instance running on port 3000 on the machine hosting the VM.

When attempting this on an M1 running 16.5, we're getting ERR_CONNECTION_REFUSED. General internet access is unaffected within Windows; it's just unable to access this one point.

What's been tried:

* We've experimented with changing out the IP address within the hosts file to point to the (static) IP of the host machine, but to no avail.

* The firewall on the M1 is off, so this shouldn't be causing any issue.

In speaking with a co-worker, it seems that previously networking was handled via vnic0, but that doesn't appear to be the case with 16.5.