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When moving Azure resources to a new resource group or subscription, both subscriptions must be part of the same Microsoft Entra ID tenant if the move involves different subscriptions. We have to move a virtual machine with a network interface card to a new subscription, you must move all dependent resources. Move the virtual network for the network interface card, and all other network interface cards for the virtual network. If a virtual machine is associated with a Standard SKU public IP address, disassociate the public IP address before moving across subscriptions.
During the move operation, both the source and target resource groups are locked. This means you can't create, delete, or update resources within these resource groups while the move is in progress. However, existing resources remain fully operational. For instance, if you move a virtual machine (VM) from one resource group to another, the VM can't be deleted, and its properties (such as VM size) can't be modified during the move. Despite this, the VM continues to operate normally, and services relying on it will not experience any additional downtime. The lock can last up to four hours, but most moves are completed faster, and the lock is removed accordingly.
Verify that the Network Security Group (NSG) linked to the VM permits the required inbound and outbound traffic. Incorrect NSG rules can hinder proper communication with the VM.
Please refer to this link for detailed, step-by-step instructions-https://learn.microsoft.com/en-us/azure/azure-resource-manager/management/move-limitations/virtual-machines-move-limitations?tabs=azure-cli
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