Installing VBR v12.3.2.4165 (latest build) in Azure win2022 VM; failing to start veeamtransport service

[ssdn108]

hi,
Brand new install of VBR v12.3.2.4165 on win2022 in azure, and it's failing with below.

failed to start veeamtransportsvc service. click retry to attempt to stop the service again. click cancel to exit setup.

It's a non-AD joined VM (workgroup call BCDR).
All Ports are open.
Defender Firewall is off.
It fails in the end during module 8 of 8 load with the above msg.
I did retried few times, and it still fails after 3 or 4 mins.

any clue?