URL Rewrite Throwing 404

Trying to configure a URL rewrite to strip a part of the path and change the port.  Here is my config:

my request url should be like https://app.domain.com:443/path/subpath/subpath

my rewritten url should be https://target.newdomain.com:8088/subpath/subpath

            <rules>
                <rule name="Rewrite" patternSyntax="ECMAScript">
                    <match url="https://app.domain.com:443/path(.*)" />
                    <action type="Rewrite" url="https://target.newdomain.com:8088{R:1}" logRewrittenUrl="true" />
                    <conditions>
                    </conditions>
                </rule>
            </rules>