BareMetalHost is failing to boot with message ignition: invalid config version (couldn't parse)

Issue

• While adding a BareMetalHost to a cluster, the node completes the introspection phase but fails during the boot phase with errors like the following (shown in the node console):

  Ignition has failed. Please ensure your config is valid. Note that only Ignition spec v3.0.0+ configs are accepted.
  
  Displaying logs from failed units: ignition-fetch-offline.service
  Oct 09 12:28:45 ignition[1933]: no config URL provided
  Oct 09 12:28:45 ignition[1933]: reading system config file "/usr/lib/ignition/user.ign"
  Oct 09 12:28:45 ignition[1933]: parsing config with SHA512: aaabbbcccdddeeefffggghhh
  Oct 09 12:28:45 ignition[1933]: failed to fetch config: invalid config version (couldn't parse)
  Oct 09 12:28:45 ignition[1933]: failed to acquire config: invalid config version (couldn't parse)
  Oct 09 12:28:45 ignition[1933]: Ignition failed: invalid config version (couldn't parse)
  Oct 09 12:28:45 systemd[1]: ignition-fetch-offline.service: Main process exited, code=exited, status=1/FAILURE
  Oct 09 12:28:45 systemd[1]: ignition-fetch-offline.service: Failed with result 'exit-code'.
  Oct 09 12:28:45 systemd[1]: Failed to start Ignition (fetch-offline).
  Oct 09 12:28:45 systemd[1]: ignition-fetch-offline.service: Triggering OnFailure= dependencies.
  

• While creating a BMH resource for a new node to be added to the bare metal cluster, the node completes pxe boot (one can see on console that ignition was applied with hostname and IP details) then reboots the server automatically and the next boot stops with errors about failed to start Ignition.