Hi @Deepak Bhardwaj ,
If you want to configure transactional replication from the on-premises server to Azure SQL Managed Instance, it is only support push mode as below screenshot. And in this situation both the publisher and distributor need to be placed on the on-premises server. You can confirm this from the MS document that I offered in first reply.
If the answer is helpful, please click "Accept Answer" and kindly upvote it. If you have extra questions about this answer, please click "Comment".