3549532 - Error while deleting scheduled backup in SAP HANA Cockpit

Despite the DB user (e.g BACKUP_USER) being granted the BACKUP ADMIN system privilege, an "insufficient privilege" error occurs when attempting to delete a backup schedule in the SAP HANA Cockpit. 
Error:
Unable to delete schedule
HTTP request failed - {"error":{"code":null,"message":{"lang":"en","value":"{\"uuid\":\"3cf9f354-ef7d-4979-bab0-0b1bc94c0d4b\",\"errorMsg\":\"SAP DBTech JDBC: [258]: insufficient privilege: Detailed info for this error can be found with guid \\u002759657D6B5EB5B64081B07103C231B329\\u0027\",\"errorId\":\"Drop scheduler job failed\",\"entityName\":\"SCHEDULER_JOBS\"}"}}}

Upon reviewing the error details, it was found that the backup schedule (Object: SYSTEM.Complete Data Backup: 12/6/24, 12:37 PM (UTC)) is under the schema SYSTEM.

 "Image/data in this KBA is from SAP internal systems, sample data, or demo systems. Any resemblance to real data is purely coincidental."

• SAP HANA, platform edition 2.0
• SAP HANA Cockpit 2

SAP HANA Cockpit, backup schedule, delete, Unable to delete schedule, HTTP request failed, insufficient privilege, Drop scheduler job failed, SCHEDULER_JOBS , KBA , HAN-CPT-CPT2-BAC , SAP HANA Cockpit 2 Backup & Recovery , Problem