Hi,
The LabVIEW software may allow you to simulate port(s), but these ports are work within the LabVIEW and also in same PC.
It’s not possible to send / receive any data to external world, If you want real data communication then the below message may useful.
Before start communication between LabVIEW and MATLAB, Check both the port communication ports say com 1 and com 2 are available in the same PC.
1. If both the ports are in same PC then Please ensure that you are using Cross cable (Rx in input side to Tx in output side and Tx in input side to Rx in output side) in simple flip the physical connection of serial cable pin number 3 and 5 in any one of the side connector(s) and there is no change in GND connection.
2. If both ports are in two different PCs or devices then try with straight cable (normal cable), if fails then use cross cable.
In either case (1 or 2) the baud rate and other serial port parameters must be same, please ensure that the sender and receiver ports are in same communication protocols.