Question What is wrong with my Raspberry Pi Compute Module 4 + IO Board?

[Dark Sorrow]

As the title suggest, what is wrong with my Raspberry Pi Compute Module 4 + IO Board?

System Specifications

1. CM4108032 (8 G.B. RAM, 32 G.B. Storage eMMC, Wi-Fi)
2. Compute Module 4 IO Board
3. 12 VDC, 3A Power Supply
4. 1 Gbps connectivity to Wi-Fi Router

Once I power on my Raspberry Pi Compute Module 4 + IO Board using 12VDC power supply via J19 Connector (Barrel Connector), all 4 LEDS continuously glow

1. Red LED
2. Green LED
3. Both LEDs on Ethernet Connector

I though their was some hardware damage but when I disable eMMC Boot and try to flash a new image in the board using Raspberry Pi Imager; I'm able to flash the new image.
However when I try to boot from eMMC I get the error.

Even if I connect the network cable, the network device is not detected and the system/device is unresponsive. I'm unable to get SSH access.

This is the second Raspberry Pi Compute Module 4 + IO Board facing the same problem.

Could this be due to high humidity (their are thunderstorms where I live)? Is this board damage? Can someone enlighten me.