SPFX Error - [trust-cert] CertUtil Error

Target SharePoint environment

SharePoint Online

What SharePoint development model, framework, SDK or API is this about?

💥 SharePoint Framework

Developer environment

Windows

What browser(s) / client(s) have you tested

• 💥 Internet Explorer
• 💥 Microsoft Edge
• 💥 Google Chrome
• 💥 FireFox
• 💥 Safari
• mobile (iOS/iPadOS)
• mobile (Android)
• not applicable
• other (enter in the "Additional environment details" area below)

Additional environment details

• browser version - Version 116.0.1938.69 (Official build) (64-bit)
• SPFx version - 1.17.4
• gulp-cli@2.3.0
• touch-cli@0.0.1
• yo@4.3.1
• Node.js version - v16.13.0
  OS - Win 11 Pro

Describe the bug / error

I have been getting this error after trying to execute gulp trust-dev-cert on a new web part project and haven't been able to fix it, please kindly help. I followed the set up process here https://learn.microsoft.com/en-us/sharepoint/dev/spfx/set-up-your-development-environment and also tried in my other PC but still throws the same error. I am executing this statement from the webpart solution folder. It does give me the Certificate installation prompt for localhost and after the error is thrown, it creates rushstack-serve.key, rushstack-serve.pem files in .rushstack folder. Here is the error:

Thank you.

Steps to reproduce

1. Install node v16.13.0
2. install gulp cli, yoeman and sharepoint generator
3. Create webpart with the generator scaffolding
4. Run gulp trust-dev-cert

Expected behavior

certificate successfully installed and running gulp serve would bring up the workspace