Hello there,
Ensure you have the right perms for this account. When in doubt, verify you have the Exchange Admin/Org Mgmt role.
The minmum permisson needed is "Role Management"
$Perms = Get-ManagementRole -Cmdlet New-ServicePrincipal
$Perms | foreach {Get-ManagementRoleAssignment -Role $_.Name -Delegating $false | Format-Table -Auto Role,RoleAssigneeType,RoleAssigneeName}
Similar discussion here https://learn.microsoft.com/en-us/answers/questions/1027098/facing-new-serviceprincipal-the-term-new-servicepr
Hope this resolves your Query !!
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