Hi @Loganathan, Kamalakkannan ,
Did you create new custom content type in "site content type"? Per my test, I could create new custom content type using the workflow task content type.
Settings > Site settings > Site content types > create > Select parent content type from "List Content Types" > Parent Content Type "Workflow Task"
And please check your Workflow Task Content Type feature is activated.
Settings > Site settings > Manage site features > Workflow Task Content Type Active
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