iPhone requests to accept New iCloud Terms and Conditions and then CANNOT Complete action

Just like it says: Under Settings I see a red alert that action is needed:

the iPhone states New iCloud Terms and Conditions need to be accepted in order to use iCloud and then when I click on continue the response is

"Cannot Complete Action

"This action cannot be completed at this time

(1) rebooted phone - same negative result

(2) Software updated to iOS 17.7.1 - same (negative) result

(3) toggle network - connected just fine - same negative result

(4) What give? I need a clue here. Please help me fix this. Thanks!