The issue is related to AEM Version with ACS Version. AEM 6.5.16 version is working fine with ACS 5.7.0 version. This issue is resolved now by upgrading ACS Version.

Yes package is installed correctly and 5.1.0 version is compatible with AEM6.5.0 version.

Yes i validated and everything is in place, we upgraded from AEM 6.4 to AEM 6.5 and updated the acs version as well. On previous version it was working fine but on the new version it is giving this error.