certutil importpfx to a TPM fails

I'm trying to import a PFX into the TPM KSP using certutil. The following command fails:

certutil -p password -csp "Microsoft Platform Crypto Provider" -v -importPFX -ent -f "C:\Tempt\test.pfx" NoChain,NoExport

with error:

CertUtil: -importPFX command FAILED: 0x80090027 (-2146893785 NTE_INVALID_PARAMETER)

I'm using Windows 10. Any idea what could be wrong?

I've tried different options (-ent my, -user, -user my, NoExport, no modifier, ...) all with the same result.