Unable to change homepage settings

I cloned a very small sub-site in my multi-site network. Everything seemed to work fine. But I was not able to change my homepage settings in Settings>>Reading. The source site I cloned had a home page and blog page set as static pages. The cloned site only allows latest posts to be shown on the home page. I tried with 2022, 2023 & 2021 default themes.

The page I need help with: [log in to see the link]