Waypoint GitLab CI error

Logs:

[32;1m$ wget -q -O /tmp/waypoint.zip https://releases.hashicorp.com/waypoint/${WAYPOINT_VERSION}/waypoint_${WAYPOINT_VERSION}_linux_amd64.zipe[0;m
e[32;1m$ unzip -d /usr/local/bin /tmp/waypoint.zipe[0;m
Archive:  /tmp/waypoint.zip
  inflating: waypoint
e[32;1m$ rm -rf /tmp/waypoint*e[0;m
e[32;1m$ waypoint context create -server-addr=${WAYPOINT_SERVER_ADDR} -server-auth-token=${WAYPOINT_SERVER_TOKEN} -server-tls-skip-verify -server-require-auth -set-default wulue[0;m
Context "wulu" created.
e[32;1m$ waypoint context verify wulue[0;m
-> Connecting with context "wulu"...
-> Verifying connection is valid for context "wulu"...
-> Context "wulu" connected successfully.
e[32;1m$ waypoint init || waypoint inite[0;m
-> Validating configuration file...
-> Configuration file appears valid
-> Validating server credentials...
-> Failed to initialize client for Waypoint server.

! The Waypoint client validation step validates that we can connect to the
  configured Waypoint server. If this is a local-only operation (no Waypoint
  server is configured), then we validate that we can initialize local writes.
  The error for this failure is shown below.

! context deadline exceeded
! Project had errors during initialization.
  Waypoint experienced some errors during project initialization. The output
  above should contain the failure messages. Please correct these errors and
  run 'waypoint init' again.
-> Validating configuration file...
-> Configuration file appears valid
-> Validating server credentials...
-> Failed to initialize client for Waypoint server.

! The Waypoint client validation step validates that we can connect to the
  configured Waypoint server. If this is a local-only operation (no Waypoint
  server is configured), then we validate that we can initialize local writes.
  The error for this failure is shown below.

! context deadline exceeded
! Project had errors during initialization.
  Waypoint experienced some errors during project initialization. The output
  above should contain the failure messages. Please correct these errors and
  run 'waypoint init' again.
section_end:1636742141:step_script
e[0Ksection_start:1636742141:cleanup_file_variables
e[0Ke[0Ke[36;1mCleaning up project directory and file based variablese[0;me[0;m
section_end:1636742142:cleanup_file_variables
e[0Ke[31;1mERROR: Job failed: exit code 1
e[0;m

Basically this command works normally in terminal locally but is failing in GitLab CI for reasons unknown.

.gitlab-ci.yml

stages:
  # - test
  - init
  - build
  - deploy
  - release
cache:
  paths:
    - /usr/local/bin
variables:
  WAYPOINT_VERSION: '0.6.2'
  WAYPOINT_SERVER_ADDR: 'ad08ae234a34d44148a46054533f0285-77712032.ap-south-1.elb.amazonaws.com:9701'
  WAYPOINT_SERVER_TLS: '0'
  WAYPOINT_SERVER_TLS_SKIP_VERIFY: '1'
  WAYPOINT_SERVER_REQUIRE_AUTH: '1'

before_script:
  - wget -q -O /tmp/waypoint.zip https://releases.hashicorp.com/waypoint/${WAYPOINT_VERSION}/waypoint_${WAYPOINT_VERSION}_linux_amd64.zip
  - unzip -d /usr/local/bin /tmp/waypoint.zip
  - rm -rf /tmp/waypoint*

init:
  image: docker:latest
  stage: init
  services:
    - docker:dind
  script:
    - waypoint context create -server-addr=${WAYPOINT_SERVER_ADDR} -server-auth-token=${WAYPOINT_SERVER_TOKEN} -server-tls-skip-verify -server-require-auth -set-default wulu
    - waypoint context verify wulu
    - waypoint init
build:
  image: docker:latest
  stage: build
  services:
    - docker:dind
  script:
    - waypoint build
deploy:
  image: docker:latest
  stage: deploy
  services:
    - docker:dind
  script:
    - waypoint deploy