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Monthly Release Notes - August 2023 (version 1.82)
(code.visualstudio.com)
So the port forwarding feature looks very convenient. But here's a snippet from the documentation.
If you haven't logged in with GitHub before, you'll be prompted to sign in. Then, enter the port you'd like to forward; the default port using the above command is port 3000. Once you do, the port forwarding system starts and the Ports view updates to show the port you forwarded and its Forwarded Address.