Cloud Functions are unable to establish a connection with the Memorystore Redis instance

Question

I have a 2nd generation Cloud Functions that I'd like to connect with a Memorystore Redis instance. Following the official documentation meticulously, I attempted the connection steps, yet encountered a TimeoutError. Considering a possible error or omission on my part, I explored the integration option provided by the Cloud Run service. Unfortunately, this approach also resulted in a persistent TimeoutError. I'm completely baffled by why it isn't functioning. While I could comprehend issues when following the official documentation, I was genuinely surprised that even GCP's integration failed to work. Has anyone here encountered this issue before? Thanks for your help in advance!