Why does yum command fails with error "init_zone_from_iana_info: assertion 'size >= sizeof (struct tzhead) && memcmp (header, "TZif", 4) == 0' failed"

Issue

yum/dnf commands fails with error

# dnf repolist

(process:83437): GLib-CRITICAL **: 11:31:20.918: init_zone_from_iana_info: assertion 'size >= sizeof (struct tzhead) && memcmp (header, "TZif", 4) == 0' failed

(process:83437): GLib-CRITICAL **: 11:31:20.919: interval_offset: assertion 'tz->t_info != NULL' failed

(process:83437): GLib-CRITICAL **: 11:31:20.919: interval_offset: assertion 'tz->t_info != NULL' failed
/usr/lib64/python3.6/importlib/_bootstrap.py:219: Warning: init_zone_from_iana_info: assertion 'size >= sizeof (struct tzhead) && memcmp (header, "TZif", 4) == 0' failed
  return f(*args, **kwds)

/usr/lib64/python3.6/importlib/_bootstrap.py:219: Warning: interval_offset: assertion 'tz->t_info != NULL' failed
  return f(*args, **kwds)

Updating Subscription Management repositories.
repo id                                        repo name
codeready-builder-for-rhel-8-x86_64-rpms       Red Hat CodeReady Linux Builder for RHEL 8 x86_64 (RPMs)
rhel-8-for-x86_64-appstream-rpms               Red Hat Enterprise Linux 8 for x86_64 - AppStream (RPMs)
rhel-8-for-x86_64-baseos-rpms                  Red Hat Enterprise Linux 8 for x86_64 - BaseOS (RPMs)