Can’t connect to device on LAN with static IP address from WSL2 container, but can from Windows running WSL

I’ve got a WSL2 container running in “mirrored” networking mode. I have another embedded device running a telnet server I would like to connect to from my WSL2 container. The embedded device is configured to have a static IP address within the range 192.168.x.x range and is connected directly to my PC over ethernet.

I can connect to the embedded device from windows. I can ping the device from the command line and I can connect to the telnet server it’s running using pythons telnetlib library from my windows machine.

When trying to ping the embedded device it from WSL2 however I can not reach the device, nor can I connect to the telnet server using the same python script. My WSL seems to be able to ping other websites/IP addresses fine.

The following is the screenshot of from my WSL network settings:
My WSL2 Netwoking settings

When I check the settings of my hyper-v firewall following the microsoft documentation found here: https://learn.microsoft.com/en-us/windows/security/operating-system-security/network-security/windows-firewall/hyper-v-firewall

Get-NetFirewallHyperVVMSetting -PolicyStore ActiveStore -Name '{40E0AC32-46A5-438A-A0B2-2B479E8F2E90}'
Name                  : {40E0AC32-46A5-438A-A0B2-2B479E8F2E90}
Enabled               : True
DefaultInboundAction  : Block
DefaultOutboundAction : Allow
LoopbackEnabled       : True
AllowHostPolicyMerge  : True

I can see that outbound connections are allowed. Does anyone have any suggestions of why this isn’t working?