Why cloning virtual machine or creating virtual machine from default template DataSource is not working in OpenShift Virtualization?

Issue

• While creating a virtual machine from the default template DataSource, the PVC cdi-tmp-UUID created for cloning is stuck in Pending status.

$->oc -n openshift-virtualization-os-images get pvc
NAME                                           STATUS    VOLUME                                     CAPACITY      ACCESS MODES   STORAGECLASS                AGE
cdi-tmp-c79b0913-5f87-4bf9-98ef-5c030cf43c4d   Pending                                                                          my-storage-class   12h     <<<
centos-stream8-2f16c067b974                    Bound     pvc-e82c731f-dfe5-4dd2-9e4d-9653c886798b   34087042032   RWO            my-storage-class   12h

• The storage profile was configured to use csi-clone by setting the clone strategy.
• The VM pod events have the below message:

  Normal  ExternalProvisioning  18s (x2976 over 12h)  persistentvolume-controller                                                                                        waiting for a volume to be created, either by external provisioner "my-storage.example.com" or manually created by system administrator"