Hello @Rohit Vuppuluri ,
Thanks for reaching Microsoft Graph Q&A forum!
As per the case description, if you are able to send events using Graph Explorer, you are definitely not experiencing fix-error-code-5-7-700-through-5-7-750, which generally happens to trial and/or new tenants.
Are you getting 20x Ok success message response for Graph API POST /users/{id | userPrincipalName}/events
?
If event is created and can be seen in sentItems of sender/organizer, then checking mail traces and routing through admin portal would give some idea why the mail is not delivered to attendees.
You can also raise a support case with Microsoft, a specialized Support Engineer will be able to assist you better who will be having tools so analyze mail routing and provide a better and faster resolution.
You can raise technical support request from:
https://portal.azure.com/#view/Microsoft_Azure_Support/HelpAndSupportBlade/~/overview or https://admin.microsoft.com/#/support/requests.
Hope this helps.
If the answer is helpful, please click "Accept Answer" and kindly upvote it. If you have extra questions about this answer, please click "Comment".