Unfortunetely I do not have this one so I can not test it.
Maybe you can compare this init file with generated file from CubeIDE mbed-os/connectivity/drivers/emac/TARGET_STM/TARGET_STM32H7/TARGET_NUCLEO_H723ZG/stm32h7_eth_init.c
is this a copy/paste error? The netmask is one byte to long. But it shouldn’t be possible to set such a wrong netmask, but it will fail to respond when the netmask is 255.255.255.255.
Another issue can be using a wrong RAM area or unaligned memory, that results in a failing ethernet if after some time. I have provided a patch for this in Mbed-CE.