How to resolve "icmp_seq=34 Destination Host Unreachable"

Question

I connected my Ubuntu machine to a custom hardware (which is also running an embedded linux) and was trying to setup ethernet communication. The IP addresses are following

Ubuntu    - 192.168.2.1, Mask:255.255.255.0
Custom HW - 192.168.2.2, Mask:255.255.255.0

When I ping the board from ubuntu, I get

ping -I enx8cae4cf4b95a 192.168.2.2
PING 192.168.2.2 (192.168.2.2) from 192.168.2.1 enx8cae4cf4b95a: 56(84) bytes of data.
From 192.168.2.1 icmp_seq=20 Destination Host Unreachable

I then ping from the HW and I checked for tcpdump on my Ubuntu and here are the ARP msgs

# tcpdump
tcpdump: verbose output suppressed, use -v or -vv for full protocol decode
listening on enx8cae4cf4b95a, link-type EN10MB (Ethernet), capture size 262144 bytes
17:52:38.577654 ARP, Request who-has 192.168.2.1 tell 192.168.2.2, length 48
17:52:38.577709 ARP, Reply 192.168.2.1 is-at 8c:ae:4c:f4:b9:5a (oui Unknown), length 28
17:52:39.637262 ARP, Request who-has 192.168.2.1 tell 192.168.2.2, length 48
17:52:39.637307 ARP, Reply 192.168.2.1 is-at 8c:ae:4c:f4:b9:5a (oui Unknown), length 28

Looking at some of the answers for similar question, I checked for the ARP table and here is the output for it -

# ip -4 neigh
10.64.208.10 dev eno1  FAILED
192.168.2.2 dev enx8cae4cf4b95a lladdr 2e:11:22:33:44:55 PROBE

I checked the MAC id of the board and it is correct. Neither of them is connected to the internet. I even tried disabling the firewall on Ubuntu to see if it changes anything and it doesnt.

What am I missing?