OCP IPI installed private cluster on Azure has limitation on the node number to scale up

Issue

Scale up the machineset of an OCP private cluster on Azure with IPI install to more than about 59 worker nodes failed. Some machine are Failed.
The failed machines have the following Error Message, by running the following command.
Command

oc describe machine <failed_machine_name> -n openshift-machine-api | grep 'Error Message'

example output

Code="SpecifiedAllocatedOutboundPortsForOutboundRuleExceedsTotalNumberOfAvailablePorts" Message="Specified Allocated Outbound Ports 1024 for Outbound Rule /subscriptions/<subscriptions_id>/resourceGroups/<resource_group_name>/providers/Microsoft.Network/loadBalancers/<load_balancer_name>/outboundRules/outbound-rule-v4 exceeds total number of available ports per backend instance of 1008 based upon desired pool size. Reduce allocated ports or increase number of IP addresses for outbound rule."