Ethernet automatically self-assigning IP - no internet conneciton within UTM

I have a stable internet connection on my laptop however when I run the MacOS VM within UTM, there is no internet connection. The ethernet is automatically self-assigning an ip and therefore has no connection.

UTM 4.1.5
Ventura 13.2
M1 Chip

The report concerns UTM 4.1.5 on Ventura 13.2 with an M1 Mac, where the macOS VM self-assigns an Ethernet IP. Start by reproducing the VM networking setup and checking why the guest does not receive a usable address; done means the guest obtains network connectivity and can access the internet.

Written by the indexing model from the issue text.