System.ComponentModel.Win32Exception: An unknown error occurred while processing the certificate

Hello everyone.
I am trying to make a secure WebSocket Server. I have generated an X509Certificate via the command given below:

makecert.exe -r -pe -n "CN=localhost" -sky exchange -sv server.pvk server.cer
pvk2pfx.exe -pvk server.pvk -spc server.cer -pfx server.pfx -pi <password>

But when I try to connect from the client to the server, I get the following error in the server logs.

4/26/2021 1:40:53 PM|Error|<>c__DisplayClass71_0.<receiveRequest>b__0:0|Authentication failed, see inner exception.
4/26/2021 1:40:53 PM|Debug|<>c__DisplayClass71_0.<receiveRequest>b__0:0|System.Security.Authentication.AuthenticationException: Authentication failed, see inner exception. ---> System.ComponentModel.Win32Exception: An unknown error occurred while processing the certificate
                              --- End of inner exception stack trace ---
                              at System.Net.Security.SslState.StartSendAuthResetSignal(ProtocolToken message, AsyncProtocolRequest asyncRequest, ExceptionDispatchInfo exception)
                              at System.Net.Security.SslState.CheckCompletionBeforeNextReceive(ProtocolToken message, AsyncProtocolRequest asyncRequest)
                              at System.Net.Security.SslState.StartSendBlob(Byte[] incoming, Int32 count, AsyncProtocolRequest asyncRequest)
                              at System.Net.Security.SslState.ProcessReceivedBlob(Byte[] buffer, Int32 count, AsyncProtocolRequest asyncRequest)
                              at System.Net.Security.SslState.StartReadFrame(Byte[] buffer, Int32 readBytes, AsyncProtocolRequest asyncRequest)
                              at System.Net.Security.SslState.StartReceiveBlob(Byte[] buffer, AsyncProtocolRequest asyncRequest)
                              at System.Net.Security.SslState.CheckCompletionBeforeNextReceive(ProtocolToken message, AsyncProtocolRequest asyncRequest)
                              at System.Net.Security.SslState.StartSendBlob(Byte[] incoming, Int32 count, AsyncProtocolRequest asyncRequest)
                              at System.Net.Security.SslState.ProcessReceivedBlob(Byte[] buffer, Int32 count, AsyncProtocolRequest asyncRequest)
                              at System.Net.Security.SslState.StartReadFrame(Byte[] buffer, Int32 readBytes, AsyncProtocolRequest asyncRequest)
                              at System.Net.Security.SslState.StartReceiveBlob(Byte[] buffer, AsyncProtocolRequest asyncRequest)
                              at System.Net.Security.SslState.ForceAuthentication(Boolean receiveFirst, Byte[] buffer, AsyncProtocolRequest asyncRequest)
                              at System.Net.Security.SslState.ProcessAuthentication(LazyAsyncResult lazyResult)
                              at System.Net.Security.SslStream.AuthenticateAsServer(SslServerAuthenticationOptions sslServerAuthenticationOptions)
                              at System.Net.Security.SslStream.AuthenticateAsServer(X509Certificate serverCertificate, Boolean clientCertificateRequired, SslProtocols enabledSslProtocols, Boolean checkCertificateRevocation)
                              at WebSocketSharp.Net.WebSockets.TcpListenerWebSocketContext..ctor(TcpClient tcpClient, String protocol, Boolean secure, ServerSslConfiguration sslConfig, Logger log)
                              at WebSocketSharp.Server.WebSocketServer.<>c__DisplayClass71_0.<receiveRequest>b__0(Object state)

How do I generate the X509Certificate for WSS correctly?

Start at WebSocketServer.receiveRequest and TcpListenerWebSocketContext, following the SslStream.AuthenticateAsServer call shown in the stack trace. Reproduce the failure with the provided makecert.exe and pvk2pfx.exe commands, then determine the certificate or server configuration needed for authentication to succeed and document the verified WSS setup.