Strictly speaking “4.0.42” is a public beta although it’s also the latest (and most stable!) release. Much better than 4.0.40 IMO so stick with it 
I’ve also had issues with testing via the local network with more recent version. Installed on 3 different PCs and 4 different pc/mac LAN clients. Fresh install works fine but some installs work over then LAN on cubase 10.5 but not 10 but is ok on nuendo 10 …another install works on 10 but not 10.5 !! …feels totally random ? ? So it’s not network specific issues (or windows firewall before anybody points that out !)
This leads me to believe it’s something in the cubase preferences - as VST connect pro (NOT PERFORMER) saves it’s preferences in the cubase project/setup.
IF you REALLY want to get it working over the LAN then you could try deleting all your cubase preferences (painful I know ) and all your VST connect Performer preferences…try it then
On the other hand I don’t find LAN connections at all useful - apart from testing.
The compromises you have when working with VST connect pro over a LAN seem to outweigh any possible advantage for not having to run a longer mic/headphone cable…and I’m a massive VST connect pro fan and use it all the time !!! YMMV
I’m struggling to think of any useful ‘real world’ LAN use application ?