MQListener Service consuming more than 90% of CPU

Question

I have a MQ Listener windows service that is consuming more than 90% of CPU consistently. I have two other similar environment and it has MQ Listener too but it is not consuming CPU (less than 10%). Please note, that the server doesnt host IBM MQ. it is just a listener which is connecting to another server hosting MQ.

I analyzed it using Process Explorer. I do not see Handle leak or too many threads. I can see both green and red highlight in threads windows, which I assume means that there is no memory leak.

I analyzed the procmon output as well.

On Server that has MQ Listener consuming more than 90% of CPU -

Within two minutes of capturing the data, I see 41K events captured for operation CreateFile. The process is looking for mqtrace.config in C drive and results in "NAME NOT FOUND"

On other servers -
For the same time frame, I have less than 100 same events with same result.

I have checked the MQ Listener configuration across servers and it is same. Hence I want to know, what can I do further and pinpoint the issue.