PowerDebug E40, PowerDebug PRO and Previous Devices:

The communication over Ethernet between PC and PowerDebug module (UDP) does not offer cybersecurity at all.
An alternative could be to use t32tcpusb which means that the PowerDebug module is connected over USB to a host running t32tcpusb, which is connected over TCP/IP to the host running TRACE32 PowerView. Refer to installation.pdf for more information about t32tcpusb.
When connecting via TCP any kind of protection can be used (e.g. SSH tunnel).

PowerDebug X50

The PowerDebug X50 supports communication over TCP. Please refer to https://support.lauterbach.com/kb/articles/powerdebug-x50-tcp-port-number