IPA fails to start and logs the message "AH02564: Failed to configure encrypted (?) private key ..."

Issue

IPA fails to start and the following lines are logged in the HTTP Server error log /var/log/httpd/error_log

[Mon Sep 27 09:17:44.858726 2021] [ssl:emerg] [pid 23276:tid 140598505408832] AH02580: Init: Pass phrase incorrect for key ipa.example.com:443:0
[Mon Sep 27 09:17:44.858758 2021] [ssl:emerg] [pid 23276:tid 140598505408832] SSL Library Error: error:0D0680A8:asn1 encoding routines:asn1_check_tlen:wrong tag
[Mon Sep 27 09:17:44.858770 2021] [ssl:emerg] [pid 23276:tid 140598505408832] SSL Library Error: error:0D08303A:asn1 encoding routines:asn1_template_noexp_d2i:nested asn1 error
[Mon Sep 27 09:17:44.858777 2021] [ssl:emerg] [pid 23276:tid 140598505408832] SSL Library Error: error:0D0680A8:asn1 encoding routines:asn1_check_tlen:wrong tag
[Mon Sep 27 09:17:44.858785 2021] [ssl:emerg] [pid 23276:tid 140598505408832] SSL Library Error: error:0D07803A:asn1 encoding routines:asn1_item_embed_d2i:nested asn1 error (Type=RSAPrivateKey)
[Mon Sep 27 09:17:44.858794 2021] [ssl:emerg] [pid 23276:tid 140598505408832] SSL Library Error: error:04093004:rsa routines:old_rsa_priv_decode:RSA lib
[Mon Sep 27 09:17:44.858802 2021] [ssl:emerg] [pid 23276:tid 140598505408832] SSL Library Error: error:0D0680A8:asn1 encoding routines:asn1_check_tlen:wrong tag
[Mon Sep 27 09:17:44.858809 2021] [ssl:emerg] [pid 23276:tid 140598505408832] SSL Library Error: error:0D07803A:asn1 encoding routines:asn1_item_embed_d2i:nested asn1 error (Type=PKCS8_PRIV_KEY_INFO)
[Mon Sep 27 09:17:44.858818 2021] [ssl:emerg] [pid 23276:tid 140598505408832] AH02311: Fatal error initialising mod_ssl, exiting. See /etc/httpd/logs/error_log for more information
[Mon Sep 27 09:17:44.858824 2021] [ssl:emerg] [pid 23276:tid 140598505408832] AH02564: Failed to configure encrypted (?) private key ipa.example.com:443:0, check /var/lib/ipa/private/httpd.key
AH00016: Configuration Failed