A cloud-based identity and access management service for securing user authentication and resource access
Hello Muralidhar Tanneeru,
Granting admin consent to Application type API permissions require Privileged Role Administrator or Global Administrator role assigned to the user account.
In your scenario, you have Cloud Application Administrator and you are the owner of the app and still you cannot grant Admin consent to the User.Read.All application type API permission because as mentioned in this Microsoft Document, Cloud Application Administrator can grant consent requesting any permission for any API, except Microsoft Graph app roles (application permissions).
Hence you need to contact your Global Admin and assign Privileged Role Administrator to grant admin consent for Microsoft Graph app roles (application permissions).
Hope this helps!
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