We had the same issue in one of our projects. The problem was that our backend used a production key to sign the payload. But for StoreKit testing, you have to use the test key.
To retrieve that key:
Open your .storekit file in Xcode
Go to Editor > Subscription Offers Key
Copy the key and Key ID
Use that key to sign your offers for the sandbox environment.
Topic:
App Store Distribution & Marketing
SubTopic:
App Store Connect
Tags: