Post micronaut 3 upgrade, @Client configuration unable to use cert, erring out as "unable to find valid certification path to requested target"

Question

Here is how our configuration class looks like -

public Class TestSSLConfiguration extends HttpClientConfiguration {
    @Override
    public SslConfiguration getSslConfiguration() {
        SslConfiguration sslConfiguration = new SslConfiguration();
        sslConfiguration.setEnabled(true);

        SslConfiguration.KeyStoreConfiguration keyStoreConfiguration = new SslConfiguration.KeyStoreConfiguration();
        keyStoreConfiguration.setType("PKCS12");
        keyStoreConfiguration.setPath("file:src/test/resources/certificates/cert.p12");
        keyStoreConfiguration.setPassword("pwd");

        sslConfiguration.setKeyStore(keyStoreConfiguration);
        return sslConfiguration;
    }

}

And we are using this configuration in our MicronautTest with declarative client as below -

import io.micronaut.http.client.HttpClient;

@Inject
@Client(value = "/api", configuration=TestSSLConfiguration.class)
HttpClient httpClient;

I have ensured that certificate file exists at provided location. Following error has come up -

Caused by: sun.security.provider.certpath.SunCertPathBuilderException: unable to find valid certification path to requested target

This used to work without any issues before we upgraded to MN3.