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Short version: if you run your own server, it may have SELinux or AppArmor, which are likely configured to forbid network access. You need to enable that access. Otherwise, it’s probably a firewall. Long version follows!
There can be many causes why UpdraftPlus is unable to contact your remote storage (e.g. Dropbox, Google Drive, FTP server, etc.). Some of these are:
However, if the error or log file you see specifically has the words “Permission denied” in it, for example like this…
PHP event: code E_USER_NOTICE: Cannot connect to server.example.com:1234 Error 13. Permission denied
… then the problem is on your webserver, which is configured to disallow outgoing network connections. This may be an outgoing firewall (i.e. as mentioned above); or if not, it is another security control mechanism in use on the server. The most common of these are SELinux (on CentOS/RedHat-like systems) and AppArmor (on Ubuntu-like systems).
In the case of SELinux, the solution is usually to turn on the httpd_can_network_connect boolean, to allow Apache (and thus mod_php, if that is how PHP is running on your system) to use the network. More information.
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