IIS website creation - A fatal error occurred while creating a TLS server credential

I am creating a website in IIS programmatically. To add the binding for "https", I created the "pfx" certificate as follows.

public static string MakeCertFile(string folderPath)
        {
            //Folder Path is comething like "C\\temp\\";
            var  password = "AdmTo@123";
            var ecdsa = ECDsa.Create(); // generate asymmetric key pair
            var req = new CertificateRequest("cn=corixaz", ecdsa, HashAlgorithmName.SHA256);
            var cert = req.CreateSelfSigned(DateTimeOffset.Now, DateTimeOffset.Now.AddYears(5));
            var friendlyName = "corixazServercert.cer";
            string filename = folderPath + "\\" + friendlyName;
            string pfxFriendlyFileName = "corixazServercert.pfx";
            string pfxFileName = folderPath + "\\" + pfxFriendlyFileName;
               
            File.WriteAllBytes(pfxFileName, cert.Export(X509ContentType.Pfx, password)); //X509KeyStorageFlags.MachineKeySet

            File.WriteAllText(filename,
                    "-----BEGIN CERTIFICATE-----\r\n"
                    + Convert.ToBase64String(cert.Export(X509ContentType.Cert), Base64FormattingOptions.InsertLineBreaks)
                + "\r\n-----END CERTIFICATE-----");
            InstallCertificate(pfxFriendlyFileName, password);
                return pfxFriendlyFileName;          
         }

The InstallCertificate method is as follows -

public  static void InstallCertificate(string cerFileName,string password, StoreName soreName = StoreName.My)
        {
            X509Certificate2 certificate = new X509Certificate2(cerFileName, password, X509KeyStorageFlags.MachineKeySet);
            certificate.FriendlyName = cerFileName;
            X509Store store = new X509Store(StoreName.My, StoreLocation.LocalMachine);
            store.Open(OpenFlags.ReadWrite);
            store.Add(certificate);
            store.Close();            
        }

To get the certificate from the store, the method is like this -

public  static X509Certificate2 GetValidCertFromStore(string certificateName, StoreName storeName = StoreName.My)
        {
            X509Store store = new X509Store(storeName, StoreLocation.LocalMachine);
            store.Open(OpenFlags.ReadOnly);
            X509Certificate2Collection certs = store.Certificates;
            DateTime highestValidDate = DateTime.Today;
            X509Certificate2 certToReturn = null;
            foreach (var cert in certs)
            {
                if (cert.FriendlyName.Equals(certificateName))
                {
                    if (certToReturn == null || cert.NotAfter >= highestValidDate)
                    {
                        certToReturn = cert; // we want to take the latest
                    }
                }
            }
            return certToReturn;
        }

Then I have another method to create "https" binding for the website.

public static void AddCertificateToWebSite(Site site, string cerFileName, int port, string password)
        {
           
                X509Certificate2 certificate = GetValidCertFromStore(cerFileName);                
                X509Store store = new X509Store(StoreName.My, StoreLocation.LocalMachine);              
                var binding = site.Bindings.Add("*:443" + ":", certificate.GetCertHash(), store.Name);
                binding.Protocol = "https";
                store.Close();            
        }

In the calling method, whenever I do "serverManager.CommitChanges()" call, I am getting the exception - "An internal error occurred. (0x8007054F)."

When i looked at the Event Log - the error is something like this - "A fatal error occurred while creating a TLS server credential. The internal error state is 10018." I could not find any relevant material regarding this in internet. I am using Windows server 2019 and IIS 10.0.1776