Dell R530 doesn't want to post with 2x Intel Xeon E5 2699 V3

- With only one E5-2699 V3 installed in socket 1, the server boots perfectly and runs stable with no errors.
- With both CPUs installed, the server hangs completely and never POSTs.
- CPU2 heatsink remains completely cold when both CPUs are installed, indicating CPU2 never initializes.
- iDRAC System Event Log shows repeated CPU0000 (Internal Error / Machine Check Exception) entries immediately on power on, followed by automatic hard resets in a loop.
- PSU0800 log entries show both power supplies reporting zero values during the crash.
- I have 2x 495W PSUs.
- RAM is installed in A1 (CPU1) and B1 (CPU2) slots.

What I have already tested and ruled out:
- Both CPUs are working -> tested each individually in socket 1, both boot and run stable.
- Both RAM sticks are working-> tested and swapped, no difference.
- Swapped CPUs between sockets -> it doesn't work in any way
- BIOS is already at 2.19.0 which is above the 2.16 minimum mentioned in other community posts for 145W CPU support.
- Both sockets visually inspected -> no bent pins or damage visible.

I found the community post confirming that dual E5-2687W v4 (which is 160W in this post) are supported on the R530 with BIOS 2.16+. I would like to know if the E5-2699 V3 is specifically listed on the R530 compatibility matrix, and if there is any known issue or required configuration for running dual 145W TDP processors on the R530 with 2x 495W PSUs.

Any help would be greatly appreciated. Thank you.