In Quay 3.7, builders are stuck on "Waiting for available build worker" phase

• Quay builder is setup on ocp 4.8 as per the documentation but the builder container is not created.
  ~~~
  $ oc get pods -n virtual-builders
  No resources found in virtual-builders namespace.
  ~~~
• Setting debug=true in executor for troubleshooting does not help spin the builder pod.

• Quay app shows below errors:
  ~~~
  builder stdout | 2022-06-02 06:32:34,133 [57] [WARNING] [buildman.manager.ephemeral] Unsuccessful schedule. Build ID: 38477aaf-9fe9-4828-8b49-d036dbe15d2e. Retry restored.
  builder stdout | 2022-06-02 06:32:54,213 [57] [WARNING] [buildman.manager.ephemeral] Failed to get worker count from executors: HTTPSConnectionPool(host='https', port=443): Max retries exceeded with url: //api.sayaliquay37.indiashift.support:6443/apis/batch/v1/namespaces/virtual-builders/jobs?labelSelector=build%2Ctime%2Cmanager%2Cquay-sha (Caused by NewConnectionError('<urllib3.connection.HTTPSConnection object at 0x7fb60d4f22e0>: Failed to establish a new connection: [Errno -2] Name or service not known'))
  builder stdout | 2022-06-02 06:32:54,220 [57] [WARNING] [buildman.manager.ephemeral] Unsuccessful schedule. Build ID: 38477aaf-9fe9-4828-8b49-d036dbe15d2e. Retry restored.
  ~~~

Attaching additional logs to the ticket.