The question, though old, asked about PKZip format so I thought I'd test the AES 256 encryption method used by PKZIP instead of WinZip/7zip since they are different and also not the same as traditional "ZipCrypto" referenced by 7zip. The file format is the same, but the exact encryption implementation used by the PKZip application are different.
I tested a PKWARE AES 256 encrypted zip file. It was made by an evaluation version of PKZIP 14.40.0028 and has 0x10 0x66 for the Algorithm ID (according to PKZIP), and testing with 7zip's command line revealed:
7z l -slt pkzip.zip
Method = pkAES-256 Deflate
Characteristics = NTFS StrongCrypto : Encrypt StrongCrypto UTF8
Compare to a 7zip encrypted zip with AES 256 which uses WinZip AES 256 algorithm and has 0x03 0x08 for the Algorithm ID (according to PKZIP).
7z l -slt 7zip.zip
Method = AES-256 Deflate:Maximum
Characteristics = WzAES : Encrypt
In both cases my Windows 10 Home version 20H2 cannot decrypt it. For the WzAES 256 zip my error is
Windows cannot complete the extraction.
The destination file could not be created.
While the pkAES-256 file simply keeps thinking I'm giving it an invalid password:
The password that you typed is not correct. Try typing it again.
Windows 10 still does not appear to natively support Zip AES encryption, whether it is PKWARE AES 256 or WinZip AES 256.