0xC00CEF03 error code translates to WR_E_NSPREFIXWITHEMPTYNSURI
which refers to "Writer: It is not allowed to declare a namespace prefix with empty URI"(Reference).
This error occurs when there is something wrong with the web.config file. It’s probably corrupted or there are incompatible tags and parameters. As a result of this corruption and incompatibility, IIS is not able to read this file. Therefore, it can’t make a change.
The issue mostly happens after migration because a piece of configuration that works in the older version of IIS (and .NET Framework) probably became unsupported in the newer version.
Solution for the 0xC00CEF03 error is find what part of the web.config is causing the issue is to remove sections one by one and test.
More information you can refer to this link.
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