Ethernet you can share waypoints and sonar. It worked for me. I don’t have the boat out of storage yet to prove it to you but it did work. I mark waypoints on one unit all the time and they instantly show up on the other and those two units are only connected via an Ethernet cable. My NMEA network is ONLY connected from one HDS and my Motorguide.
Waypoints is an easy way to confirm. Sit in your boat, mark a waypoint on one unit and it should appear on the other (make sure its on).
You do have to go through settings to select which “source” you want for the sonar. If both units are powered on, you have Ethernet cable connected between the two and you have them both set to “Network Sonar” is set on both units, but with all that set properly you should then be able to choose which source you want to display.