React Context Value always default and not updated

1. I have created one wrapper component where I put my react context.

2. Inside that wrapper component I have used useEffect() hook where I fetch values from api and try to update context default values.

3. In my child component I tried to fetch context values but only default value of that context is fetched. So it seems that useEffect hook didnt updated my context object.

Here is wrapper component:

export const CorporateWrapper = ({ apiBaseUrl, children }) => {
const [corporateContextDefaults, setCorporateContextDefaults] = useState({});

useEffect(() => {
        (async () => {
            try {
                const json = await fetchCorporateUserDetails(apiBaseUrl, getClientSideJwtTokenCookie());

                if (json.success !== true) {
                    console.log(json.message);

                    return {
                        notFound: true,
                    };
                }

                console.log(json.data);
                setCorporateContextDefaults({corporateId: json.data.corporate_id, corporateRole: json.data.corporate_role, corporateAdmin: json.data.corporate_role == 'Admin', corporateSuperAdmin: json.data.corporate_super_admin});
            } catch (e) {
                console.log(e.message);
            }
        })();
}, []);

return (
    <CorporateProvider value={corporateContextDefaults}>
        {children}
    </CorporateProvider>
);

};

Here is CorporateProvider component:

import React, { useState, useContext } from "react";

const CorporateContext = React.createContext({corporateId: null, corporateRole: null, 
corporateAdmin: null, corporateSuperAdmin: null});
const UpdateCorporateContext = React.createContext({});

export const useCorporateContext = () => {
    return useContext(CorporateContext);
};

export const useUpdateCorporateContext = () => {
    return useContext(UpdateCorporateContext);
};

export const CorporateProvider = ({ value, children }) => {
    const [details, setDetails] = useState(value);
    return (
        <CorporateContext.Provider value={details}>
            <UpdateCorporateContext.Provider value={setDetails}>
            {children}
            </UpdateCorporateContext.Provider>
        </CorporateContext.Provider>
    );
};

export default CorporateProvider;

Here is how I try to fetch context value from child component which is wrapped under wrapper component:

const { corporateId } = useCorporateContext();