Can't Telnet into an AWS Public EC2 Instance (Linux) from Windows Command Prompt

Question

I'm trying to telnet into a newly created AWS Public EC2 Instance from my computer's command prompt. I've already set up this instance's Security Group as follows: Inbound Rules

Other things to note is that its VPC is custom and that the instance is housed in a Public Subnet. I made this switch because I initially tried to ping this EC2 instance's public IP address, which works!

Additionally, I did the following:

1. Enabled Telnet on my computer via these steps - Open Windows Start menu > Type "Control Panel" > Press Enter > “Programs” > "Programs and Features" > Turn Windows features on or off > Select "Telnet Client" > Press “OK".
2. Installed the telnet server and client in this specific EC2 instance using the commands sudo yum install telnet-server and sudo yum install telnet. Now, I couldn't figure out why I still couldn't connect here despite disabling my Windows Firewall. I'm using the command, telnet <EC2 instance's public IPv4 IP address> 23.

What could be the issue?

I'm expecting to successfully telnet into the Public EC2 Instance from my Windows Command Prompt.