thanks for the reply I gotta check deep.... logs above show some rendition is not supported .com.adobe.cq.assetcompute.impl.event.AssetComputeRenditionEventImpl Asset Compute worker failed to generate rendition for asset '/content/dam/test-webp.webp', processingId: 'f9ead0b6-f21e-42a3-be9b-50a2

It worked for me too in local but in cloud instances its failing. try uploading in cloud instance and let me know if it works cause mine dint. 

Im trying to upload webp extension images in dam assets but its showing process failed after loading. Here is some info from logs :  com.adobe.cq.assetcompute.impl.event.AssetComputeRenditionEventImpl Asset Compute worker failed to generate rendition for asset '/content/dam/test-webp.webp', processi...