current user has NO permssion of cloud admin.
Error: NoSuchBicketPolicy: The bucket policy does not exist status code: 404

In Backup Exec 21.4 version, the bucket needs to be created using msdpcldutil. Refer to article 100051334.
The Issue is fixed in Backup Exec 22. If the Cloud bucket is created independently first , msdpcldutil is still able to configure the volume successfully.