@Prakhar Sinha @Alexei Chizmakov @Benoit Lacelle seeing that the exceptions are reporting high timeouts, it may be occurring timing out on the Front-End load balancer. Long running requests upwards of 30s will have significantly high failures counts. @Benoit Lacelle , 5MB doesn't sound large to me but still could be same issue.
https://techcommunity.microsoft.com/t5/apps-on-azure/azure-storage-blob-upload-from-browser/ba-p/392687 is a blog post that provides a workaround for uploading files using Azure Storage and freeing up the web server. You can have your app generate a storage blob's SAS Key with write access which is sent back to the browser and used to upload to storage.