foreman-proxy service fails with an error No such file or directory in Red Hat Satellite 6.

Issue

• foreman-proxy service fails to start with the below error.

  ● foreman-proxy.service - Foreman Proxy
  Loaded: loaded (/usr/lib/systemd/system/foreman-proxy.service; enabled; vendor preset: disabled)
  Drop-In: /etc/systemd/system/foreman-proxy.service.d
            └─90-limits.conf
  Active: failed (Result: exit-code) since Sat 2023-03-25 14:28:12 IST; 2min 31s ago
  Process: 34040 ExecStart=/usr/share/foreman-proxy/bin/smart-proxy --no-daemonize (code=exited, status=203/EXEC)
  Main PID: 34040 (code=exited, status=203/EXEC)