Got in touch with the customer support via calls and email and got it resolved with their support.
Following were the steps.
Upgrade macOS to venture 13.1 (The issue persisted even after this, next step fixed it)
In the system settings, the Apple ID email that's logged in, should be the same as the Apple ID email that's used to create the Apple developer program account.
After step 2, the above error didn't appear, and was smoothly able to move to the next step.
good luck!
Topic:
Developer Tools & Services
SubTopic:
Xcode
Tags: