This issue is related to the Pixy2 sensor interface settings and/or the cable used for the hardware connection. There are a couple of things that can be tried to resolve the issue.
- Cross check that the right color signature and/or I2C address is used in the Pixymon app and Simulink model.
- Make sure the EV3 Pixy2 cable is the right one to be used. See this forum discussion for more details.
- Open the Pixymon app from the Pixy2 sensor block mask and check if the Interface tab is available. If not, flash the regular firmware available here. This should help you see the interface tab in the Pixymon app once the device resets. In the interface tab, select I2C as the Data output port. See this documentation page for more information.