Error : kernel panic - not syncing error on startup.

kali linux 32 bit version download link - https://images.kali.org/virtual-imag...-vbox-i386.ova

Primary OS - Windows 10 64-bit Desktop
VirtualBox version - 6.1.16 (latest version)

I downloaded the above version of kali linux on my pc. When I added it to virtualbox and tried to run it, it gave kernel panic - not syncing error and screen does not go forward. I read on many threads and tried the following changes:-
1. Changed PIIX3 chipset to ICH9.
2. Increased the video memory size to 128 MB (highest)
3. Disabled 3D Acceleration.

Yet nothing worked and i am at the same error message.

I can run win7 VM on virtualbox but cannot run this VM.

I have also attached the VBox.log file along with error message and my configuration.
Please see into my error and help me ASAP.