SPFx React- MSGraphClientV3 call not working correctly

Question

We are using MSGraphClientV3 to make graph API calls and get user properties. Below is the code.

return await this.context.msGraphClientFactory
    .getClient('3')
    .then((client: MSGraphClientV3) => {
        return client
            .api(`/users/${email}/`)
            .select(",,,properties,,,")
            .get()
            .then((response: any) => {
                console.log("User details fetched", response);
                return new User({
                    // Properties assigned to User object
                    // ...
                });
            })
            .catch((error: any) => {
                this.LogError("", error.toString(), "Error");
                console.log(error);
                return null;
            });
    });

This was working well until recently, then all of sudden we are facing issues. First 2 times there is no response and for the third call onwards there is response successfully.

The permissions requested are

{
  "webApiPermissionRequests": [
    {
      "resource": "Microsoft Graph",
      "scope": "User.Read"
    },
    {
      "resource": "Microsoft Graph",
      "scope": "User.Read.All"
    }
  ]
}

The User.Read.All is admin consented and approved.

In the console we observe these errors

POST https://login.microsoftonline.com/<>/oauth2/v2.0/token 400 (Bad Request)

GET <..site..>/_api/Microsoft.SharePoint.Internal.ClientSideComponent.Token.AcquireOBOToken?resource=%27https://graph.microsoft.com%27&clientId=%27<..id..>%27 400 (Bad Request)

We tried to update the manifest file for SharePoint Online Client Extensibility Web Application Principal "preAuthorizedApplications": [] by adding the

{
    "appId": "00000003-0000-0ff1-ce00-000000000000",
    "permissionIds": [
    "**id from oauth2Permissions**"
    ]
}

This fails and gives the error- Property preauthorizedapplications.permissionIds has a permission id that cannot be found in the AppPermissions set

The call was working fine, but suddenly started to face this issue.