Iphone 12 USB Ethernet sharing not working on new Qualcomm Snapdragon X laptop

I have a new ASUS S5507QA laptop with the Qualcomm Snapdragon X chipset running Windows 11. I do not get the USB Ethernet sharing working for my iPhone 12. It is showing up and I am able to access the phone hard drive but I am not able to get the USB iPhone Ethernet sharing to work. I have tested reinstalling the USB drivers as well as iTunes.

I have tested using the same iPhone and USB cable with a Lenovo laptop with Intel chipset running Windows 11 and here the USB Ethernet sharing is working as expected.