
Believed to be due to a mismatch of certificates in use between the servers;
Once the Self-Signed (SHA1) certificate on the vCenter server was replaced with a CA issued (SHA256) certificate, the Backup Exec server was able to successfully establish a Trust to the vCenter server.
Another solution is to regenerate the certificate.
Note: Restarting Backup Exec services is required after updating vCenter certificate.
Regenerate vSphere 6.x, 7.x, and 8.0 certificates using self-signed VMCA
Configuring CA signed certificates for ESXi hosts
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