Why configuring virtual machine interface in OpenShift Virtualization using web console is not working?

Issue

• Used Add network data from OpenShift Console to configure the network interface of the VM. However, the configuration was not applied to the VM interface.
• The console generated the below configuration in the VM yaml:

oc get vm rhel9-u6tjuurwgslcmmmv -o yaml |yq '.spec.template.spec.volumes[1]'
cloudInitNoCloud:
  networkData: |
    network:
      version: '1'
      config:
        - type: physical
          name: eth1
          subnets:
            - type: static
              address:
                - 192.168.0.1/24
              gateway: 192.168.0.100
  userData: |
    #cloud-config
    user: cloud-user
    password: mypass
    chpasswd:
      expire: false
name: cloudinitdisk