Etcd backup to s3


I am creating an etcd backup such that it gets pushed to S3 on a regular basis. I am running Rancher 2.3.2 and I see the option to push etcd backups to S3.

I have created a bucket and also created a folder on it. When I try to save the configuration, there is an error which pops up which does not allow me to save the configuration. Snapshot 1 below.

The error states -

Unable to validate s3 backup target configuration: Head : 301 response missing Location Header

Any help is appreciated.