Apologies for the delayed response @Dharmendra Patidar.
The error message "Authorization_IdentityNotFound" indicates that the identity of the calling application could not be established. This error message usually occurs when the token used to authenticate the application is not valid or does not have the necessary permissions to perform the operation.
I suggest inspecting the token generated using the client_credential
flow for the necessary permissions to create the application in the tenant in the app registration blade. I'm not well versed on B2C, but I think it would be similar to Tutorial - Register a web application in Azure Active Directory B2C - Azure AD B2C | Microsoft Learn.