Does this command work on Select series 4 ?
Not on mine apparently.
Are there any videos showing how it works ?
I am getting no clues what is wrong - just a message saying "Error : unable to perform operation"
The frustrating thing is that I can see it performing the operation perfectly but when I accept the element disappears and I get the error message.
Is there a specific reason you are using Select Series 4? That version currently has a status of Expiring Support, and will be discontinued from 1st July, 2020. You can check the Bentley Support Policy for information on this.
Lofting a surface has always been dependent on the shapes chosen, their position and orientation to each other, the settings in the dialog, and the point where each shape is selected. The attached video shows a circle and rectangle being lofted into a surface in Ss4, using two different selection points.
That said, if you've happened to discover a scenario where the tool is not doing what it's supposed to; i.e., a defect, there's no fix to be found other than upgrading to a newer version - with CONNECT Edition being the only supported version come July as Satadal mentioned.