Azure DevOps service REST API does not return data for service principal

Question

For example, the accounts API may return HTTP 200 response with empty array in its body. Many users have been impacted by the issue:

https://techcommunity.microsoft.com/t5/azure/azure-devops-accounts-list-returning-blank-through-rest-api/m-p/3760225

https://learn.microsoft.com/en-us/azure/devops/integrate/get-started/authentication/service-principal-managed-identity?view=azure-devops

Azure DevOps Accounts List won't work for Service Principals · Issue #696 · MicrosoftDocs/vsts-rest-api-specs · GitHub

In my case, many AzDO REST API have been used by Power Platform ALM Accelerator and it can't function properly using service principal (i.e. Azure App Registration) to call the AzDO REST API.