Not able to access Employee pages after Redwood enablement. Data security policy isn't registered

Summary:

After Redwood enablement. We are not able to access any of the Employee self services pages such as Contact Info, Employment Info, Family and Emergency Contacts and the page opens up with "Access Denied"

When we tried to check the data security in the below page, the access control list size is updated with "Data security policy isn't registered", what exactly does this mean??

Have tried all the possible ways of adding relevant privileges to the custom employee role and regenerated the roles but with no luck.

Did anyone face the issue or have a possible solutions for this issue. Thanks in advance.