Policy will be applied only to nodes, to which the template is applied (but should work in any sequence - either template was applied first and then policy was added, or otherwise).
On Windows systems default location for configuration policy files is
C:\Windows\System32\config\systemprofile\AppData\Local\nxagentd\config_ap
so you can watch this folder to check if policy gets there. Agent restart is needed so it can catch up the new configuration.
Also, on a side node, there are two ways how to monitor Windows Event logs - one is Windows Event Sync, when logs are sent to NetXMS server and stored there (so it requires bandwidth and DB space. The other is Log File Parser Policy - you can specify Windows Event Logs there in file name field, e.g. *Security