Checklist 1: cut the obvious mismatches
Confirm that every player finished downloading the latest update
Fully close and relaunch the game on every machine
Make sure nobody is on a test branch, preview build, or stale session
Try one host and one guest first before rebuilding the full party
Checklist 2: narrow the problem down
Ask one simple question: does nobody connect, or does one specific player keep failing? If the whole lobby is dead, focus on host session freshness, patch state, and global service issues. If one player fails while the others connect, focus on that player first and stop changing the whole party setup around them.
When to escalate
If you have already matched versions, restarted everyone, tested with only two players, and still cannot connect, stop improvising. At that point you want a proper bug report or an official support path, because random extra changes can make the real issue harder to spot.