Hi there,
To manage a Windows device, you need to be a member of the local administrator's group. As part of the Azure Active Directory (Azure AD) join process, Azure AD updates the membership of this group on a device.
How to manage the local administrator's group on Azure AD joined devices
https://learn.microsoft.com/en-us/azure/active-directory/devices/assign-local-admin
Here is a thread as well which discusses the same issue and you can try out some troubleshooting steps from this and see if that helps you to sort the Issue.
Global Admin account lacks permissions to do anything on VM
https://learn.microsoft.com/en-us/answers/questions/7962/global-admin-account-lacks-permissions-to-do-anyth.html
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