I tried what you said. I sent a ping from my computer to the server and this was the output of nft monitor trace:

trace id 1d01c81e ip ping_trace prerouting packet: iif "eth0" ether saddr b0:7d:64:e8:8f:3c ether daddr d8:3a:dd:de:28:99 ip saddr 192.168.40.201 ip daddr 192.168.40.203 ip dscp cs0 ip ecn not-ect ip ttl 64 ip id 65074 ip length 84 icmp type echo-request icmp code 0 icmp id 35586 icmp sequence 0 
trace id 1d01c81e ip ping_trace prerouting rule icmp type { echo-reply, echo-request } meta nftrace set 1 (verdict continue)
trace id 1d01c81e ip ping_trace prerouting policy accept 
trace id 1d01c81e inet filter input conntrack: ct direction original ct state new ct id 271120081 
trace id 1d01c81e inet filter input packet: iif "eth0" ether saddr b0:7d:64:e8:8f:3c ether daddr d8:3a:dd:de:28:99 ip saddr 192.168.40.201 ip daddr 192.168.40.203 ip dscp cs0 ip ecn not-ect ip ttl 64 ip id 65074 ip protocol icmp ip length 84 icmp type echo-request icmp code 0 icmp id 35586 icmp sequence 0 
trace id 1d01c81e inet filter input rule ip protocol icmp icmp type { echo-reply, destination-unreachable, echo-request, time-exceeded, parameter-problem } accept comment "Accept ICMP" (verdict accept)

I sort of get what’s happening and it looks like the ping request has been accepted.

From my computer when I send a ping it shows:

15:55 dell:/tmp/ $ ping -c1 192.168.40.203
PING 192.168.40.203 (192.168.40.203): 56 data bytes

--- 192.168.40.203 ping statistics ---
1 packets transmitted, 0 packets received, 100% packet loss

So even though it’s being accepted, I still get nothing going back to my computer, at least that’s how I understand it.