Why dnf update fails with "Problem: cannot install the best update candidate for package ansible-2.9.27-1.el8ae.noarch" ?

Issue

• The DNF update fails and the below error occurs

# dnf update
Updating Subscription Management repositories.
Last metadata expiration check: 4:26:46 ago on Fri May 27 09:10:48 2022.
Error:
 Problem: cannot install the best update candidate for package ansible-2.9.27-1.el8ae.noarch
  - nothing provides ansible-core >= 2.12.0 needed by ovirt-ansible-collection-2.0.3-1.el8ev.noarch
(try to add '--skip-broken' to skip uninstallable packages or '--nobest' to use not only best candidate packages)