Newly installed Windchill fails to start

1. Installed WIndchill 13.0.2.x on a server that has Windchill 12.1.1.x installed. However, WIndchill 13.0.2 won't start
2. Upgrade Manager stuck on Update Container template phase, Method Server logs are not generated 
3. Windchill cannot start during Upgrade at Update Container template:
4. Server Manager log: 

INFO  [main] wt.server.manager.startup - Registry created: RegistryImpl[UnicastServerRef2 [liveRef: [endpoint:[xxxxxx-xxxxxx.xxxxx.xxxxx:5002,wt.boot.WTRMIMasterSocketFactory@1e240](local),objID:[0:0:0, 0]]]]
 INFO  [main] wt.server.manager.startup - ServerManager created: ServerManagerImpl[UnicastServerRef2 [liveRef: [endpoint:[xxxxxx-xxxxxx.xxxxx.xxxxx:5002,wt.boot.WTRMIMasterSocketFactory@1e240](local),objID:[0:0:0, 5002]]]]
 INFO  [main] wt.server.manager.startup - ServerManager bound in registry.
 INFO  [main] wt.manager.CacheMasterNegotiator - Cache main stub name: CacheMain
 INFO  [main] wt.manager.CacheMasterNegotiator - Using low-locking algorithm
 INFO  [main] wt.manager.CacheMasterNegotiator - Main stub retrieved: null
 FATAL [main] wt.server.manager - ServerManagerMain abort java.lang.NullPointerException: Cannot invoke "wt.manager.ServerManager.ping()" because "wt.manager.CacheMasterNegotiator.stubData.msmStub" is null
	at wt.manager.CacheMasterNegotiator.pingStub(CacheMasterNegotiator.java:1440)
	at wt.manager.CacheMasterNegotiator.determineInitialMaster(CacheMasterNegotiator.java:2420)
	at wt.manager.CacheMasterNegotiator.start(CacheMasterNegotiator.java:2400)
	at wt.manager.ServerManagerMain.startServerManager_internal(ServerManagerMain.java:394)
	at wt.manager.ServerManagerMain.run(ServerManagerMain.java:302)
	at wt.manager.ServerManagerMain.main(ServerManagerMain.java:232)

2024-09-09 14:09:14,062 FATAL [main] wt.server.manager.shutdown - ServerManager stopped.