@Siripurapu Sanjeev Kumar, Thanks for posting in Q&A.
According to your description, I know that the LAPS failed to manage Local admin account’s password.
Please first check the managed account whether exists on the targeted device, if no, please run the script you mentioned to create the account.
If the account is already existing, then there’s no need to run the script, please check Operation log which locate in Event Viewer > Applications and Services logs > Microsoft > Windows > LAPS on the target device and provide the related error message.
Thanks for your kind understanding.
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