Found the answer - Set the reg value to zero and it worked:
Windows Server - Network State change fired multiple instances

Greetings,
We have a Windows 2022 server running in VSphere that is constantly at 100% CPU. Task manager shows that it is the Network List Service. The NetworkProfile event log show loads of entries saying Network Connectivity Level Changed = True. Device manager shows only one Ethernet connection which is the standard VMXNET 3 NIC. We have quite a number of Windows server 2022 VMs with the same network card that dont seem to have this problem.
Any ideas how to fix this please?
Thanks
David Z
Windows for business Windows Server User experience Other
2 answers
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David Zemdegs 1,596 Reputation points
2022-08-18T01:53:21.807+00:00 “HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Services\NlaSvc\Parameters\Internet”
set EnableActiveProbing to zero.
then restart.