I\'m getting a 404 during a URL redirect/rewrite, and I\'m unable to pin down exactly what\'s causing it.
The warning is:
REWRITE_DISABLED_KER
All your rules look OK.
It seems like you need to enable ARR's proxy forwarding feature which is disabled by default, REWRITE_DISABLED_KERNEL_CACHE
also gives a clue about it.
To enable proxy forwarding; open an elevated command prompt on the server and enter the following command.
appcmd.exe set config -section:system.webServer/proxy /enabled:"True" /commit:apphost
Or have a look at Creating a Forward Proxy Using Application Request Routing.