Project Template Not appearing for Project Creation in Project Financial Management

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I have created a Project Template with BU as XX, Project Unit as PU1 and Organization same as BU. However, when I try to create a project, the Source Template LOV is not showing up this template.

Details for BU and Project Unit are below

BU : XX

Organization Classification for BU : Project and Task Owning, Project Expenditure Owning

Project Unit: PU1

Configure Project Accounting Business Function : Scope is set to BU - XX and associated with Project Unit PU1