Unable to connect to Windows Dedicated Server

So I have game and server builds both working and connecting just fine in local network. I am able to connect to my dedicated server hosted on same pc running game build.

I’ve uploaded my dedicated server build to remote Azure Windows VM, configured port forwarding for inbound connection 7777. Server launches just fine. But when I’m trying to connect to it from my pc with static public IP of my VM nothing happens, just connection timeout, server doesn’t receiving any connections.
I’m using “execute command ip:port” to connect to server, as was already stated it works fine for local network but not for my remote VM.
I found a ridiculously small amount of information regarding this, most not answered. Any tips on how to fix it or even where should I dig?