Tag not monitored by Microsoft.
For InboundRestrictionNotEligible just the tenant setting alone is not sufficient but you have to check whether the workspace is on a Fabric F SKU and not a Trial/P SKU. Also check that whether "unsupported items" in the workspace are attached to a "Deployment Pipeline"
Check by re-registering the Microsoft.Fabric resource provider in the Azure subscription because sometimes the resource provider isn't registered. Check that the PLS must use the exact Fabric workspace ID and tenant ID.
Check that the Private Endpoint should target Microsoft.Fabric/privateLinkServicesForFabric with the sub resource workspace
Allow ~15 minutes for propagation if the tenant setting was recently enabled.
To diagnose properly, create an empty F-SKU workspace and try by enabling inbound networking. If it works fine then it means that the original workspace may have an unsupported configuration/item. If it doesn't work then check the tenant/PLS configuration.
You can check the resource: https://learn.microsoft.com/en-us/fabric/security/security-workspace-level-private-links-set-up