With pinggy.io you can test your Razorpay Webhook from localhost with just a single command. Replace the port 8080 with the port where your local development server is running and make sure it is ready to receive requests (e.g. http://localhost:8080/payments-webhooks ).
Pinggy will give you a URL like https://ranlkfsbjkxry.a.pinggy.link. Use this URL to test the webhook.