Atul Singh Greetings & Welcome to Microsoft Q&A forum!
Did you configure any proxy or firewall? How exactly are you deploying to webapp?
What is the status of the webapp in Azure AI studio and in Azure Webapps page inside Azure Portal? Is it successfully deployed?
I just tried in Azure OpenAI studio and in Azure AI studio and its running without any issues. Please see below for more clarity.
After deployment, please wait for 10 minutes, then reload the app and log in to begin chatting.
See Troubleshooting steps to solve "502 bad gateway" and "503 service unavailable" errors if that helps to resolve the issue.