IDM services are failing to start due to the pki-tomcatd error "netscape.ldap.LDAPException: Authentication failed (49)"

Issue

When attempting to start the IDM services, the pki-tomcatd services fails to start.

[root@ipaserver ~]# ipactl start
Starting Directory Service
Starting krb5kdc Service
Starting kadmin Service
Starting httpd Service
Starting ipa-custodia Service
Starting ntpd Service
Starting pki-tomcatd Service
Failed to start pki-tomcatd Service
Shutting down
Hint: You can use --ignore-service-failure option for forced start in case that a non-critical service failed
Aborting ipactl

[root@ipaserver ~]# ipactl status
Directory Service: STOPPED
Directory Service must be running in order to obtain status of other services
ipa: INFO: The ipactl command was successful

Checking /var/log/pki/pki-tomcatd/ca/debug log, you see the error below:

Internal Database Error encountered: Could not connect to LDAP server host host01.example.com port 636 Error netscape.ldap.LDAPException: Authentication failed (49)