An API that connects multiple Microsoft services, enabling data access and automation across platforms
You seem to have all the prerequisites met, just double-check whether you are passing the correct token. An expired token perhaps? If using the Graph SDK for PowerShell, you can "peek" at the token by using the -OutputType HttpResponseMessage parameter for Invoke-MgGraphRequest, see this article for more details: https://office365itpros.com/2025/08/04/access-token-graph-sdk/
I can confirm that using a token with RoleEligibilitySchedule.Read.Directory permissions in app scope works just fine with the /v1.0/roleManagement/directory/roleEligibilityScheduleInstances endpoint.