@slide_o_mix Thanks for sharing to check the logs.
It was actually a Java update. In the recent Java version
Starting OpenJDK17 these java options -XX:MaxPermSize=256m have been removed and using them results in an error. We need to remove -XX:MaxPermSize=512m in java option and replace with -XX:MaxMetaspaceSize=512m. in the Jenkins.xml config file.
See: Removed Java Options Documentation
Server is up and running now.