@Venkatesh Kacham , Thanks for the follow-up and additional info.
These are default metrics and do not need anything to be enabled.
Well, I understand your requirement.
Any HTTP 5xx on application would fire this alert. HTTP 500.3 is subset of HTTP 5xx – so, it is expected that alert will be fired.
There is no provision to exclude certain URL from this alert.
At this time, one workaround ( as shared on SO)- is to use Diagnostic settings -> Send HTTP raw logs to Log analytics -> Write queries to filter and trigger alert based on your requirement.
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