Thank you for your response. I'll check the references you've provided.
I've been working with the power automate team on this issue. The way i see it, the flow was never triggered. The webcontents function is trying to make a call and pass the inputs, but the couldn't reach the destination. This flow worked well for quite few times and this error comes up later. I tried by making copies of the flow configuartion and replacing the new urls from the http connector in the webcall in power Bi. This again ran 4-5 times and was not triggered post that. I also noticed "Fix Trigger" error on flow home page.
Power Automate team got back to me saying there's something wrong at the source end, but were unable to answer my question about why there successful runs if there's any issue with the source or the content. At this moment, the product team is still investigating the root cause. Will keep this post updated as soon as I hear back from them.