Hi @aarora,
I have a demo ms sql server database and I’ve been trying to make it “not work” in a similar way to yours. I think I have succeeded! 
I now have a database where from the same machine, I can login using SSMS but not with KNIME (or more specifically, any jdbc connection).
Going back to your original attempt to connect the host called “10.56.50.4\POLYBASE”, I was in agreement with @bruno29a that this was an invalid hostname.
What I now realise is that yes, your hostname is 10.56.50.4 but that POLYBASE is your “instance name”. So I needed to work out
(1) how to put the instance name into your jdbc connection string and
(2) how to achieve that using KNIME.
Through SSMS, my connection dialog looks like this:

where in my case:
host: takahenas
port:1433
instance:TAKDEV
The database that I connect to is called knimedemodb
As you use jTDS, this is what I am going to use.
What I found is that the jTDS connection string that worked for me was this, using my demo server so I don’t mind showing the full string here:
jdbc:jtds:sqlserver://takahenas:1433/knimedemodb;instance=TAKDEV
So using your credentials, I believe the equivalent connection string you are aiming for is:
jdbc:jtds:sqlserver://10.56.50.4:1433/AnalyticsPOC;instance=POLYBASE
To create that connection string, you will need to have your details on the Microsoft SQL Server Connector as follows:
but crucially, you need to tell it the name of the “instance” which is POLYBASE
Enter the details by selecting the JDBC parameters tab and entering the information there as follows:
Alternatively, you can use the DB Connector node instead, and enter the JDBC connection string in full there
I hope that helps resolve your connection problem.