Yes, this is what the configuration format should be. Thank you for confirmation that this works. We should not put actual host and port in this config.

@Jagadeesh_Prakash This is bad practise- you should not define host directly in config file in AEMaaCS. Rather use proxy.tunnel i.e. $[env:AEM_PROXY_HOST;default=proxy.tunnel]. Looks like you are not following the link you posted.  Anyone looking at this thread, please refer this blog post to enable...