"HttpSendRequest" failed, Windows error code=12029 (cannot connect) and retry limit (0) exceeded for URL="https://......"

Hello Experts,

We have recorded a web script which is working fine by enabling "Using WinInet replay instead of Sockets” option in Vugen and in local controller but in LRE it is failing with  Error -27492: "HttpSendRequest" failed, Windows error code=12029 (cannot connect) and retry limit (0) exceeded for URL="https://......"

Workaround tried so far:
1) Disabling "Using WinInet replay instead of Sockets” option in LRE RTS but script is not working without enabling WinInet oprtion in Vugen also.
2) Asked LRE admin to hit application URL from LG machine (as we don't have access to LG) to check any firewall related issue and that is also working fine.

Please share your expertise if anyone has faced similar issue.