Azure Sql Managed Instance - how to fix "TLS Handshake failed: cannot read handshake packet: EOF"

Question

We have a third party plugin Brightgauge agent that is installed on a local VM, it is getting the following error when we try to configure it to connect to Azure Sql Managed Instance:

TLS Handshake failed: cannot read handshake packet: EOF

The Brightgauge agent requires the following info, which we provided:

• HostName: xxxx.public.xxxxx.database.windows.net
• Port: 3342
• Database Name: [dbname]
• Db UserName: [user]
• Db Password: [pwd]

This is what we know:

• From the VM, test-netconnection executes successfully to the hostname/port.
• All of our other applications can connect to the Azure Sql Managed Instance just fine, including SSMS that is installed on the VM.
• The Brightgauge agent can successfully connect to our other Azure Sql Databases, just not Azure Sql Managed Instance
• On the Azure Sql Managed Instance, we have enabled all traffic on all ports, and enabled public access
• The connection failed even when we have TLS 1.0 as the minimum version

From the agent logs, the only additional detailed info we get is:

[TEST_NEW_CONNECTION] TRACE_ID: "10.xx.xx.xxx_[random guid]", failed to open connection with database, TLS Handshake failed: cannot read handshake packet: EOF

Where the 10.xx.x.x is an IP defined in the subnet of the managed instance's network security group.

Is there a configuration we are missing that is currently blocking the connection?