In IIS, I have the following listed as default documents
index.cfm exists and is shown if I navigate to the root of the site.
index.cfm
As soon as I try https://localhost:1234/index.cfm, I get 404.0 error
https://localhost:1234/index.cfm
This is the solution that fixed the issue.
If one goes to IIS, there is a virtual directory /jakarta
/jakarta
The physical path associated with the virtual directory was ColdFusion2016\config\wsconfig\1
ColdFusion2016\config\wsconfig\1
By adding the D: drive, all works OK.
D:
You should use the WSConfig tool to manage the /jakarta virtual directory. If it's not setting the path correctly something is wrong.