Unfortunately the KV46 silicon does not appear to implement the Coresight Embedded Trace Buffer (ETB) that MCUXpresso IDE requires to provide instruction trace capability.
For comparison here is the list of "Coresight" debug components detected with Kinetis K64 (as displayed by a LinkServer debug connection):
Content of CoreSight Debug ROM(s):
RBASE E00FF000: CID B105100D PID 04000BB4C4 ROM (type 0x1)
ROM 1 E000E000: CID B105E00D PID 04000BB00C Gen SCS (type 0x0)
ROM 1 E0001000: CID B105E00D PID 04003BB002 Gen DWT (type 0x0)
ROM 1 E0002000: CID B105E00D PID 04002BB003 Gen FPB (type 0x0)
ROM 1 E0000000: CID B105E00D PID 04003BB001 Gen ITM (type 0x0)
ROM 1 E0040000: CID B105900D PID 04000BB9A1 CSt TPIU type 0x11 Trace Sink - TPIU
ROM 1 E0041000: CID B105900D PID 04000BB925 CSt ETM type 0x13 Trace Source - Core
ROM 1 E0042000: CID B105900D PID 04003BB907 CSt ETB type 0x21 Trace Sink - ETB
ROM 1 E0043000: CID B105900D PID 04001BB908 CSt CSTF type 0x12 Trace Link - Trace funnel/router
vs the more limited Coresight capabilities implemented on KV46:
Content of CoreSight Debug ROM(s):
RBASE E00FF000: CID B105100D PID 04000BB4C4 ROM (type 0x1)
ROM 1 E000E000: CID B105E00D PID 04000BB00C Gen SCS (type 0x0)
ROM 1 E0001000: CID B105E00D PID 04003BB002 Gen DWT (type 0x0)
ROM 1 E0002000: CID B105E00D PID 04002BB003 Gen FPB (type 0x0)
ROM 1 E0000000: CID B105E00D PID 04003BB001 Gen ITM (type 0x0)
ROM 1 E0040000: CID B105900D PID 04000BB9A1 CSt TPIU type 0x11 Trace Sink - TPIU
Note the lack of ETB (along with the lack of ETM / Embedded Trace Macrocell which generates the tracedata to be collected by the ETB).
Regards,
MCUXpresso IDE Support