p2v fails to create initramfs

Issue

• p2v conversion fails to create initramfs with an error "No space left on device".

gzip: stdout: No space left on device
E: dracut: creation of /boot/initramfs-<kernel_version>.img failed                 <----------- Initramfs creation failed
commandrvf: stdout=n stderr=n flags=0x0
commandrvf: umount /sysroot/sys
commandrvf: stdout=n stderr=n flags=0x0
commandrvf: umount /sysroot/proc
commandrvf: stdout=n stderr=n flags=0x0
commandrvf: umount /sysroot/dev/pts
commandrvf: stdout=n stderr=n flags=0x0
commandrvf: umount /sysroot/dev
renaming /sysroot/etc/6hpexrl0 to /sysroot/etc/resolv.conf
guestfsd: error: I: Executing /sbin/dracut --verbose --add-drivers virtio virtio_ring virtio_blk virtio_scsi virtio_net virtio_pci /boot/initramfs-<kernel_version>.img <kernel_version>