Unable to start Ceph RGW service

Context: I'm trying to setup a new ceph-17.2.5 cluster Initial setup consists of 1 mgr, 1 mon and 1 osd all installed on same box using cephadm.

So far I am able to access http://192.168.3.50:8080/api/auth and get token in the response.

But http://192.168.3.50:8080/api/rgw/bucket returns:

{
    "status": "500 Internal Server Error",
    "detail": "The server encountered an unexpected condition which prevented it from fulfilling the request.",
    "request_id": "f08247f9-d9ea-4f88-99b7-d07d5141d5ea"
}

This seems because the dashboard shows rgw service is not running, I have tried to setup rgw service using below commands:

sudo cephadm shell --mount radosgw.yml:/var/lib/ceph/radosgw/radosgw.yml
ceph orch apply -i /var/lib/ceph/radosgw/radosgw.yml

radosgw.yml file contents:

service_type: rgw
service_id: default
placement:
  hosts:
  - <machine-hostname>
  count_per_host: 1
spec:
  rgw_realm: default
  rgw_zone: default
  rgw_frontend_port: 8123
networks:
  -  192.168.3.0/24

After running above the cluster in ceph dashboard does show one rgw service: enter image description here

But the object gateway daemon still gives error as below: enter image description here

The RGW API still returns same error.

Looking at the rgw logs I see rgw keeps trying restart on a loop and eventually stops:

Nov 17 05:31:16 <hostname> systemd[1]: Started Ceph rgw.default.<hostname>.rerude for 76ec21dc-4f10-11ed-8fda-0050568dc50c.
Nov 17 05:31:17 <hostname> bash[2537663]: debug 2022-11-17T05:31:17.012+0000 7fc0de7ed5c0  0 deferred set uid:gid to 167:167 (ceph:ceph)
Nov 17 05:31:17 <hostname> bash[2537663]: debug 2022-11-17T05:31:17.012+0000 7fc0de7ed5c0  0 ceph version 17.2.5 (98318ae89f1a893a6ded3a640405cdbb33e08757) quincy (stable), process radosgw, pid 7
Nov 17 05:31:17 <hostname> bash[2537663]: debug 2022-11-17T05:31:17.012+0000 7fc0de7ed5c0  0 framework: beast
Nov 17 05:31:17 <hostname> bash[2537663]: debug 2022-11-17T05:31:17.012+0000 7fc0de7ed5c0  0 framework conf key: endpoint, val: 192.168.3.59:8123
Nov 17 05:31:17 <hostname> bash[2537663]: debug 2022-11-17T05:31:17.012+0000 7fc0de7ed5c0  1 radosgw_Main not setting numa affinity 
Nov 17 05:31:17 <hostname> bash[2537663]: debug 2022-11-17T05:31:17.015+0000 7fc0de7ed5c0  1 rgw_d3n: rgw_d3n_l1_local_datacache_enabled=0 
Nov 17 05:31:17 <hostname> bash[2537663]: debug 2022-11-17T05:31:17.015+0000 7fc0de7ed5c0  1 D3N datacache enabled: 0 
Nov 17 05:36:17 <hostname> bash[2537663]: debug 2022-11-17T05:36:17.013+0000 7fc0dd36f700 -1 Initialization timeout, failed to initialize 
Nov 17 05:36:17 <hostname> systemd[1]: [email protected].<hostname>.rerude.service: Main process exited, code=exited, status=1/FAILURE 
Nov 17 05:36:17 <hostname> systemd[1]: [email protected].<hostname>.rerude.service: Failed with result 'exit-code'. 
Nov 17 05:36:27 <hostname> systemd[1]: [email protected].<hostname>.rerude.service: Service RestartSec=10s expired, scheduling restart. 
Nov 17 05:36:27 <hostname> systemd[1]: [email protected].<hostname>.rerude.service: Scheduled restart job, restart counter is at 4. 
Nov 17 05:36:27 <hostname> systemd[1]: Stopped Ceph rgw.default.<hostname>.rerude for 76ec21dc-4f10-11ed-8fda-0050568dc50c. 
Nov 17 05:36:27 <hostname> systemd[1]: Started Ceph rgw.default.<hostname>.rerude for 76ec21dc-4f10-11ed-8fda-0050568dc50c. 
Nov 17 05:36:27 <hostname> bash[2538424]: debug 2022-11-17T05:36:27.465+0000 7f2589bf95c0  0 deferred set uid:gid to 167:167 (ceph:ceph) 
Nov 17 05:36:27 <hostname> bash[2538424]: debug 2022-11-17T05:36:27.465+0000 7f2589bf95c0  0 ceph version 17.2.5 (98318ae89f1a893a6ded3a640405cdbb33e08757) quincy (stable), process radosgw, pid 6 
Nov 17 05:36:27 <hostname> bash[2538424]: debug 2022-11-17T05:36:27.465+0000 7f2589bf95c0  0 framework: beast 
Nov 17 05:36:27 <hostname> bash[2538424]: debug 2022-11-17T05:36:27.465+0000 7f2589bf95c0  0 framework conf key: endpoint, val: 192.168.3.50:8123 
Nov 17 05:36:27 <hostname> bash[2538424]: debug 2022-11-17T05:36:27.465+0000 7f2589bf95c0  1 radosgw_Main not setting numa affinity 
Nov 17 05:36:27 <hostname> bash[2538424]: debug 2022-11-17T05:36:27.468+0000 7f2589bf95c0  1 rgw_d3n: rgw_d3n_l1_local_datacache_enabled=0 
Nov 17 05:36:27 <hostname> bash[2538424]: debug 2022-11-17T05:36:27.468+0000 7f2589bf95c0  1 D3N datacache enabled: 0 
Nov 17 05:41:27 <hostname> bash[2538424]: debug 2022-11-17T05:41:27.466+0000 7f258877b700 -1 Initialization timeout, failed to initialize

Not sure what should I look for to get the rgw apis to work in a minimal setup.