Admin Consent failed for AAD application

I have global adminstrator permission and When i try to do admin consent to AAD Application permissions i am getting below error.

az : ERROR: Bad Request({"ClassName":"Microsoft.Portal.Framework.Exceptions.ClientException","Message":"Graph call failed with
httpCode=BadRequest, errorCode=Request_BadRequest, errorMessage=The application needs access to a service that your organization
aadb2c01 has not subscribed to. Please contact your administrator to review the configuration of your service
subscriptions.
At line:141 char:13
+ az ad app permission admin-consent --id "$($app.Id)"

After some research i found when spn(created in protal) is avaiable for application i can able to provide admin consent without the above error. I want to use powershell script to do admin consent

Used commands to create AAD application:
New-AzureADApplication -DisplayName "test"

Admin consent:
az ad app permission admin-consent --id "$($app.Id)"

Need solution to do admin consent

I tried the same in my environment and got the results successfully like below:

Connect-AzureAD
New-AzureADApplication -DisplayName "ruktest"

az login --allow-no-subscriptions
az ad app permission admin-consent --id AppId

By using the above commands, Admin consent got granted successfully to the API permissions like below:

To resolve the error, check the below:

I agree with @mikesh, make sure that the Azure Service Principal exists for the Azure AD Application you have created. If not, create the Service Principal by using below command:

Connect-AzureAD

New-AzureADServicePrincipal -AccountEnabled $true -AppId AppID -AppRoleAssignmentRequired $true -DisplayName $App -Tags {WindowsAzureActiveDirectoryIntegratedApp}

To Connect-AzureAD, make sure you are connecting with the user which exists in Azure AD B2C tenant and has Global Administrator role assigned:

If still the issue persists, try recreating the Azure AD Application and check.

Reference:

Apps & service principals in Azure AD - Microsoft Entra

As @mikesh mentioned in comments, when we use wizard in the portal, it creates both an Application and a Service Principal. So, if you want to create the same in PowerShell, then we need to use New-AzureADApplication and New-AzureADServicePrincipal both

$myapp=New-AzureADApplication -DisplayName "myapp"
Connect-AzAccount -TenantId $B2CTenantId -Credential $creds
New-AzADServicePrincipal -ApplicationId "$($myapp.AppId)" 

After creating spn for myapp can able to do admin consent without any issue.