3225548 - DBCO Connection Failing with Error 53

Performing DBCO connection test via SE38 and it fails with below error:

M  *** ERROR => DlLoadLib()==DLENOACCESS - LoadLibrary("F:\usr\sap\A23\DVEBMGS01\exe\dbhdbslib.dll")
  Error 53 = "The network path was not found." [dlnt.c       322]
M  {root-id=000D3A8A73E31EDCB9BFCAEEC5747AC7}_{conn-id=00000000000000000000000000000000}_0
B  *** ERROR => Couldn't load library 'F:\usr\sap\A23\DVEBMGS01\exe\dbhdbslib.dll'
 [dbcon.c      7092]
B  ***LOG BYG=> could not load library for database connection CONNECTION TO D1D [dbds         984]
B  ***LOG BZY=> unexpected return code 8192 calling DBDS [dbacds       2076]
B  *** ERROR => Unexpected RC when calling dsql_connect
 [dbacds.c     2077]
B  Loading DB library 'F:\usr\sap\A23\DVEBMGS01\exe\dbhdbslib.dll' ...
M  *** ERROR => DlLoadLib()==DLENOACCESS - LoadLibrary("F:\usr\sap\A23\DVEBMGS01\exe\dbhdbslib.dll")
  Error 53 = "The network path was not found." [dlnt.c       322]
B  *** ERROR => Couldn't load library 'F:\usr\sap\A23\DVEBMGS01\exe\dbhdbslib.dll'
 [dbcon.c      7092]
B  ***LOG BYG=> could not load library for database connection CONNECTION TO D1D [dbds         984]
B  ***LOG BZY=> unexpected return code 8192 calling DBDS [dbacds       2076]
B  *** ERROR => Unexpected RC when calling dsql_connect

Error looks to be network path related, but path is valid and can be accessed, even checked on permission.
Re-installation of the HANA client does not fix the issue.

SAP NetWeaver Version 7.4

KBA , HAN-DB-CLI , SAP HANA Clients (JDBC, ODBC) , Problem