Connection is not getting established from react socket-io client to flask-socket-io server for real time update

Just for learning purpose, I am trying to establish a connection between react and flask with SOCKET.io to get real time updates.

But, sadly I am not able to establish a connection between client socket.io to sever socket.io till now.

I followed several blogs and explored GitHub issues, but none of them had helped me.

Codes

1. React codes

    import React, { useState, useEffect } from "react";
    import socketIOClient from "socket.io-client";
    import io from "socket.io-client/dist/socket.io";
    import "./App.css";
    
    const ENDPOINT = "http://127.0.0.1:5000";
    
    function App() {
      const [data, setData] = useState("");
    
      const setRecords = (response) => {
        console.log("response", response);
        setData(response.records);
      };
      useEffect(() => {
        // const socket = socketIOClient(ENDPOINT);   // >>>>> Not Working
        const socket = io.connect(ENDPOINT, { rejectUnauthorized: false }); //{ transports:["websocket"]}
        console.log("connected", socket);
        socket.on("success", (data) => console.log(data));
   
        // socket.on("FetchRecords");
        // socket.emit("FetchRecords");
        // socket.on("SendingRecords", setRecords);
    
        // socket.on("FromAPI", data => {
        //   setResponse(data);
        // });
      }, []);
      return (
        <div className="App">WEBSOCKET with FLASK and REACT...{data.length}</div>
      );
    }
    
    export default App;

Now if I see the logs in the console, it is being disconnected.

2. Backend Code

from flask import Flask, jsonify
from mongoConnect import todo
from flask_socketio import SocketIO, send, emit

app = Flask(__name__)
app.config['SECRET_KEY'] = 'secret!'
socketio = SocketIO(app, cors_allowed_origins='*', engineio_logger=True)

@socketio.on('connect')
def test_connect():
    print('CONNECT EVENT happened...')
    emit('success', {'data': 'Connected'})


@socketio.on('FetchRecords')
def fetch_all_records():
    records = todo.find({})
    print('fetch_all_records', len(records))
    response = jsonify({'code': 200, 'records': records})
    print(response)
    emit('sendingRecords', response)


if __name__ == '__main__':
    socketio.run(app, port=5000)

Can anyone tell me where am I going wrong? Weirdly none of them had the problem like me... Here are the blogs and issues I checked...

1. React Native: unable to establish the socket connection
2. Simple Chat-App with React & Flask
3. Socket.IO, React and Node.js: Going Real-Time