pip install with keyring-provider is not working

Question

I have keyring installed as the artifactory repo where I download the package required authentication.

Operating System is Windows 10.

I referred this document and decided to use keyring with pip.

Command I use is

pip install <custom package> --keyring-provider import -i 'https://<artifacotry-url>.com/artifactory/api/pypi/<org>-local-pypi-playground/simple'

benefit of doubt, I tried --keyring-provider subprocess as well.

What I get is.

ERROR: Could not find a version that satisfies the requirement <custom package> (from versions: none)
ERROR: No matching distribution found for <custom package>

I confirmed that it works when I use .netrc and url based authentication. Problem is only when using keyring. I can also see credentials set using keyring in Windows credential manager.