Not sure if this was due to winutil or something else but I'm just leaving this here in case someone else encounters it.
If you install Transmission via winutil and aren't sure why port forwarding isn't working, be sure to go to Windows Settings > Network > Windows Firewall > Advanced Settings > Inbound Rules > Transmission Qt Client > Allow the Connection > Apply.
Not sure if this was due to winutil or something else but I'm just leaving this here in case someone else encounters it.
If you install Transmission via winutil and aren't sure why port forwarding isn't working, be sure to go to Windows Settings > Network > Windows Firewall > Advanced Settings > Inbound Rules > Transmission Qt Client > Allow the Connection > Apply.