503 Service Unavailable Error when using litespeed with toolset forms plugin.

I am using the Toolset forms plugin to create a signup form on my website. It was working fine earlier, after updating the Litespeed Cache plugin to version 3.5.2 I'm getting an error which says server unavailable [Please refer to the attached screenshot]. This is particularly with the pages where I'm using the forms created through the toolset forms plugin.

I checked by deactivating the Litespeed Cache plugin, the form is working fine.

Using the latest WordPress version 5.5.3 with the toolset forms latest version 2.6.2

Any help will be appreciated.
I checked, there is no any error_log or error.log on my document root folder. But I can see the following error message on the developer console.
Failed to load resource: the server responded with a status of 503 ()