I have connected the STM32H723ZI2 board to the PC, i could see the virtual drive connection to the PC, but when I use the embedded coder support and generate code and try to flash the board it showing No board connection to the board.
What ST-LINK are you using? Try upgrade the ST-Link firmware.
Did you try to use latest release of STM32CubeProgrammer?
Check that the pins are properly connected and make sure that the power supply VDD from the application board is connected to the ST-LINK/V2. (Edit: I mean ST-LINK/V3)
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I had some setting issues in linking the matlab with stm32 cube mx ide, this is how the problem solved, I am not sure if it is related to the ST link V3