Yes, Portent will work from Ethereal Plane
Portent states, emphasis mine(PHB, 116)
You can replace any attack roll, saving throw, or ability check made by you or
a creature that you can see with one of these foretelling rolls.
The DMG (page 48) provides the limitations of being on the Ethereal Plane:
Normally, creatures in the Border Ethereal can't attack creatures on the overlapped plane, and vice versa...This makes the Ethereal Plane ideal for reconnaisance, spying on opponents, and moving around without being detected.
This seems to state that the only natural limitation of being on the Ethereal is that you can not attack across planes. Seeing and using magical abilities is not limited.
Etherealness vs The Ethereal Plane
This is different than the limitations of the spell Etherealness (PHB, 238). Etherealness has specific rules that overrides the general rule for the Ethereal Plane, but in this case is not applicable because the spell and it's specific rules are not relevant to the Simulacrum Wizard simply on the Ethereal Plane.
Seeing is believing
The Simulacrum Wizard on the Ethereal plane need only to See their target in order to activate the Portent. The target is visible to the Simulacrum Wizard and the limitation of being on the Ethereal Plane is only that they can't attack. This allows the Simulacrum Wizard to use their Portent ability across the Ethereal to the Material Plane. The rules for the Ethereal Plane only prevent attacks, so using their Portent Ability is possible since they only need to see their target.