The “Invoke-WebRequest" Powershell command uses IE as its engine to contact VerClouds, IE browser was not initialized for the Password Manager service account hence the call was failing. IE browser shows a settings page when IE is opened for a user for the first time.
Right click and open IE browser as the service account. Right click and then click on “Run as different user”. Select the preferred settings when the popup is shown when running the browser for first time.