NetWorker : Windows FS Backup fails with error read failed-volsnap

Backup fails for E:\  drive on a Windows client after running for some hours. No issue with backup for other drives or DR save set.
Error messages in Workflow logs:

--- Job Indications ---
read failed on \\?\GLOBALROOT\Device\HarddiskVolumeShadowCopy15\<file with path>: No such file or directory.

Error messages in action logs (/nsr/logs/policy/<policy>/<workflow>/<backup_xxx_logs>/xxx.log):

91579:save: Unrecoverable readfile error captured, backup will not complete.
127945:save: read failed on \\?\GLOBALROOT\Device\HarddiskVolumeShadowCopy15\<file with path>: No such file or directory

Shadow copy gets created while starting backup but removed before backup completion due to volsnap event .
Windows system event log ID 25.

The shadow copies of volume E: were deleted because the shadow copy storage could not grow in time.  Consider reducing the IO load on the system or choose a shadow copy storage volume that is not being shadow copied.

Windows Storage controller driver and firmware were not updated and there was another local backup used to run on the E:\ drive during NetWorker backup. However, updating driver/firmware and changing NetWorker backup start time after local backup completion didn't resolve the problem.
 

NetWorker: Troubleshooting Backup Failures Due to VSS Issues