Hi @Kasif Ali · Welcome to QnA Platform and thanks for your query.
Could you please share which property of the application you are trying to update?
Also, in the screenshot that you have shared, the Directory.AccessAsUser.All permission is not consented.
Since the Directory.AccessAsUser.All allows the app to have same access to the information as signed in user, the signed in user must have permission to update the app as well. Which means, the signed in user must be assigned with application administrator or cloud application administrator directory role as well.
Please let me know if these changes help resolving the issue. Feel free to tag me in your reply if you need any further help to resolve this issue.
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