Not able to deploy cloud function - ensure registry read/write access to us.gcr.io

I am trying to deploy a simple cloud function (gen1) in my project. I have owner permission for the project.

however, while deploying I am getting following error.

"build": ERROR: failed to initialize analyzer: validating registry write access: ensure registry read/write access to us.gcr.io/project_xxx/gcf/northamerica-northeast1/3c5aeef8-dfbd-43de-9873-16a1b68e54ed/cache:4f2ca2a4-acef-42e1-94e2-3123fcd93c70"

I also provided Artifact Registry Administrator role to the service account tied to cloud function. however, I am still getting above error.

Update 1:

I gave Artifact Registry Administrator permission for cloudbuild.gserviceaccount.com service account as well. However, same error.

Update 2

Just to isolate the problem, I gave owner permission to both the service accounts. cloud function and cloud build service account and I am still getting this issue.

I checked the path as well for artifactory and it's empty.
us.gcr.io/project-xxx/gcf/northamerica-northeast1/f4d0d3b2-6ed4-4e04-aab1-708b19e26d9c/cache:39767ec4-9f7d-4992-82c8-ae8d9658b909

I also, deleted the entire function and created new one with same service account and still getting issue.

Update 3:
I checked the cloudbuild settings and seems like it has all the access required.

You are setting Artifact Registry permissions, but by default, gcr.io urls are handled by Container Registry. If you want to use gcr.io urls with Artifact Registry, you can run (needs roles/storage.admin):

gcloud beta artifacts settings enable-upgrade-redirection --project=PROJECT_ID

(See https://cloud.google.com/artifact-registry/docs/transition/setup-gcr-repo for more detailed info)

If you want to use Container Registry (not recommended), you should use these permissions: https://cloud.google.com/container-registry/docs/access-control