This error indicates that you are attempting to use an invalid combination of initiator and target credentials for iSCSI authentication.

You can view the set of credentials that iPXE is using with the show command:

  iPXE> show username
  username:string = mcb30
  iPXE> show password:hex
  password:hex = 64:72:65:61:6d:20:6f:6e
  
  iPXE> show reverse-username
  Could not find "reverse-username"
  iPXE> show reverse-password:hex
  Could not find "reverse-password"

Things to try:

Note that you cannot use target authentication without also providing credentials for initiator authentication, since this is not permitted by the iSCSI protocol.