Hello,
The configuration from the router's side looks correct. It is rather straightforward.
I have tested it, and the address was passed to the WAN interface of another device.
Primary suggestion would be to restart both devices, after setting RUT240 in a passthrough mode.
Another thing is to check is, whether the MAC address provided in the configuration is correct. As WAN should be set as DHCP client and RUT240 as a server, you could login to the router via SSH and execute one of the following commands:
As some IP from RUT240 LAN pool should be given to the WAN port of Ubiquiti, that IP should be printed together with the MAC of the interface.
You could also check this link on bridge/passthrough modes configuration details.
Best regards,