Actually, I am making a repost of my original post as the issue is still not fixed and the thread is too old to receive any solution.
The problem is - Remember password check box while mounting encrypted drive does not work. An entry is created in kwallet with blank name. But, next time when I mount the drive, it is still asking for password (please refer to previous post for screenshots). I tried renaming the entry in kwallet to /dev/nvme1n1 as that was the case in Ubuntu, but the issue is still not fixed. Any suggestions?