CyberARk PSM upgrade to 12.6 with error PSMRC057 Failed to open SCPR, reason: -2996 (Codes: -1, -1)

In this upgrade of CyberArk PSM, I am going to take the PSM server from CyberArk 12.2 to CyberArk 12.6.
This should be a straightforward upgrade, as with CyberArk installation the PSM should be done after the CPM servers. During the upgrade, the upgrade failed. This was due to an error PSMRC057 Failed to open SCPR, reason: -2996 (Codes: -1, -1). For my problem with the upgrade I did the following:
Uninstall CyberArk PSM from the server.
Deleted the PSMAPP and PSMGW users for the server.
This may not resolve all issues with the error PSMRC057 Failed to open SCPR, reason: -2996 (Codes: -1, -1)

The upgrade is a straightforward upgrade. There is nothing that should impact the upgrade. Make sure that the backups are working and has completed successfully prior to doing the upgrade. Check replication is running correctly before doing the upgrade. Make sure you have a role back point with a clone of the server or a restore point.

The upgrade to CyberArk Digital PSM 12.6
The server is a VM with minimal resources 2 CPU, 2 GB Ram, and 60 GB storage.

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