After some debugging .. it appears that -queryport in the commandline paramater causes the server to stop responding plus some commandline paramaters is outdated based on this config.
On the other hand, using the following commandline would solve most of the issues and server will start and shows in both community list and join via ip but players stats in the panel will no longer works due to -queryport is not set in the commandline paramater and cannot be set for the mean time unless the devs decides to add it in the future releases:
-publiclobby -port=$[Service.GamePort] -publicip=$[Service.IpAddress] -publicport=$[Service.GamePort] -players=$[Service.Slots] -useperfthreads -NoAsyncLoadingThread -UseMultithreadForDS -logformat=text
Myth Busted