I have tried running it as a local Administrator as well as a full-fledged domain admin account (this is a domain-joined server). I can run the script within the Task Scheduler manually and it works.

Learn how to use Windows Task Scheduler to automate essential PC maintenance tasks, saving time and ensuring your computer ...

On Windows 10, you can automate tasks with the Task Scheduler, and in this guide, I'll show you the steps to create basic and advanced tasks on your device.