I think the issue might be related to LAN visibility settings. All other settings left unchanged, turning off LAN visibility is the single change that leads to this problem.
I run multiple servers on one host at home. In past versions, I had each server on a custom port and LAN visibility off.
In these bugged versions of Bedrock, the above settings prevent client connections even when running only one server on the host. This is also true when using the default port and keeping the LAN visibility off. Using tcpdump, it appears the initial game ping packets are exchanged, but no gameplay connection is ever up and running.
However, gameplay works on the default or a custom port if LAN visibility is turned on.
Gameplay also works when running multiple hosts with LAN visibility on, even though only one host will actually be visible in the LAN list. The other servers can be connected directly from the server tab. Both servers successfully use custom ports for gameplay and will attempt to use 19132 for lan visibility. However, only the first world will be automatically detected and listed as a lan world on the Worlds tab. The other world(s) can be added in the Servers tab. All will play.
In short, it seems we are unable to turn LAN visibility off without simultaneously breaking gameplay.
As I mentioned before, I am getting this problem specifically with the LAN visibility setting on my servers. I have reproduced this today in Version 1.26.43.1.
All other settings unchanged, setting LAN visibility to false results in clients not being able to connect. This result is the same with either default or custom port settings.
server-port
enable-lan-visibility
Client sees server in LAN list?
Client can connect directly?
19132 (default)
true (default)
YES
YES
19201
true (default)
YES
YES
19132 (default)
false
NO
NO
19201
false
NO
NO