Hi Shubham Koolwal,
Welcome to Microsoft Q&A! Thanks for posting the question.
The "Cannot create a v2 converged app" error when creating an Azure Bot Service, occurs due to some reasons please check below,
Ensure the app registration in Azure AD to ensure it is correctly configured. Verify that all necessary permissions are in place, including roles like Application Administrator or Cloud Application Administrator in Azure AD. Additionally, review the configuration settings to make sure everything is set up properly. Finally, check the Azure Portal logs for any detailed error messages that might provide further insights into the issue. please check below link,
Provision and publish a bot in Azure.
As I tried to repro the scenario its works fine in my environment,
Do let us know if you any further queries. Thank you!