Hi @Abhishek Sunil , @Brian Wu thanks for your patience.
Received the update from Product group and connection timeout issue has been fixed. I tried connecting it myself and I am able to connect. Could you please try and let me know if you still face the issue?
Below is the verbatim I received from PG "The issue should only affect management tasks of the cache (viewing details/ scaling), and should not impact connections or operations to the cache itself."
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If the issue is resolved, please mark it as 'Accept Answer' as this could help others who are facing same issue.