I had the same issue with the Tetris DLC template a couple days ago, on version 1.21.20 (I'm also on Windows). I tried to create a new world several times and ran into the issue, but after restarting the game it went away. I restarted several times while my friend was attempting to connect to the world (we had trouble, probably related to MCPE-185254) and the issue did appear again (ruining the new world that had previously worked), but went away again after restarting the game. I have been unable to reproduce the bug while playing today on 1.21.21, despite restarting my game multiple times. I figured I'd add what I have found, since the Tetris DLC template is a newer template which means that the age of the templates was probably not the issue.
It is not just Realms that is affected, but also hosted worlds for friends to join (the joinable friends section under the friends tab). Me (on Windows) and my friend (on Nintendo Switch) both see the same gray box/fetching realms that is shown in several of the other screenshots on this report, and most of the time, neither of us are able to see or join the other person's world.