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 | 2022-06-09 16:41:58,293 [64] [WARNING] [buildman.manager.ephemeral] Job buildman/production/building/769aaeac-f604-43b3-90f0-a45763950c44 cannot use executor openshift as it is below retry threshold 5 (retry #2) - Falling back to next configured executor
  builder stdout | 2022-06-09 16:41:58,293 [64] [ERROR] [buildman.manager.ephemeral] Could not start ephemeral worker for build 769aaeac-f604-43b3-90f0-a45763950c44
  builder stdout | 2022-06-09 16:41:58,305 [64] [WARNING] [buildman.manager.ephemeral] Unsuccessful schedule. Build ID: 769aaeac-f604-43b3-90f0-a45763950c44. Retry restored.
  builder stdout | 2022-06-09 16:41:58,306 [64] [WARNING] [buildman.manager.ephemeral] Exception trying to mark job buildman/production/building/769aaeac-f604-43b3-90f0-a45763950c44 as unschedulable. Some state may not have been cleaned/updated: buildman/production/building/769aaeac-f604-43b3-90f0-a45763950c44
  ~~~

Attaching additional logs to the ticket.