MSVC 2022: cannot build 2.72.1: glibmmconfig.h does not seem to be generated

Building from release tarball, glibmmconfig.h does not seem to be generated:

nmake /f Makefile.vc CFG=debug PREFIX="${gtkmm-stack}"

Microsoft (R) Program Maintenance Utility Version 14.32.31329.0
Copyright (C) Microsoft Corporation.  All rights reserved.

Microsoft (R) C/C++ Optimizing Compiler Version 19.32.31329 for x64
Copyright (C) Microsoft Corporation.  All rights reserved.

value_basictypes.cc
${build_dir}\glibmm-2.72.1_build\glib\glibmm/value.h(20): fatal error C1083: Cannot open include file: 'glibmmconfig.h': No such file or directory
NMAKE : fatal error U1077: 'if' : return code '0x2'
Stop.

${gtkmm-stack} is a directory containing an installation of libsigc++ and gtk4 (built with gvsbuild).

Trying to build from git checkout (tag 2.72.1/commit 9b50d0c7) runs a bit longer:

${build_dir}\glibmm_build\glibmm\MSVC_NMake>nmake /f Makefile.vc CFG=debug PREFIX="${gtkmm-stack}"

Microsoft (R) Program Maintenance Utility Version 14.32.31329.0
Copyright (C) Microsoft Corporation.  All rights reserved.


Microsoft (R) Program Maintenance Utility Version 14.32.31329.0
Copyright (C) Microsoft Corporation.  All rights reserved.


Microsoft (R) Program Maintenance Utility Version 14.32.31329.0
Copyright (C) Microsoft Corporation.  All rights reserved.

Generating version info Makefile Snippet...
NMAKE : fatal error U1077: '.\pkg-ver.bat' : return code '0x1'
Stop.
NMAKE : fatal error U1077: 'if' : return code '0x2'
Stop.
NMAKE : fatal error U1077: 'if' : return code '0x2'
Stop.

/usr/bin from MSYS2 is on my path with packages perl-XML-parser and expat installed.

I was unable to find glibmmconfig.h in the source tree in either case after running nmake.