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Apologies for the delay. The promiscuous mode should be enabled for the Collector, the Monitor or the APM Central that you are using to capture the traffic. Not on the application servers of yours.
On Hyper-V, due to the vendor limitations, this is not possible so you may need to use a Cloud Probe installed on the host itself or on the application servers.
Please open a support case if you need more specific answers or if you have some more specific questions.