@Kumar H N, Sumanth Thanks for reaching here! If you need traces to understand how your web app is running under load.
check: View Application Insights Profiler data
Could you confirm if your app running on the right version? As Profiler is supported on the .NET Framework later than 4.6.2.
Further suggest you to refer this detailed official document on Troubleshoot Application Insights Profiler it would be helpful in narrowing down the issue.
You may also try to enable Profiler using any of the below method