How to enable port 5000 on AWS ubuntu

I have a flask app running on AWS Ubuntu server on port 5000 (flask runs default on port 5000). But when I try to access the server on that port, it never connects.

I added a security group on AWS console as "Custom TCP" on port "5000" for any ip address "0.0.0.0/0", but still I cannot access it.

Do I have to restart the server? Or am I missing anything?

Let me know any additional information to provide.