iCloud Permission

I have just purchased a new M1 iMac which I use at work and I have a 27inch iMac I use at home. I used the migrate function to import applications and files into the new iMac. I have logged into iCloud on the new Mac with the same id as on my other devices and it says I am logged in. However if I click on the iCloud Drive on the new Mac it says

You do not have permission to open the application “iCloud Drive”. Contact your computer or network administrator for assistance.

But I am the administrator for both machines and so can't see how I can fix the issue and view my files on the new iMac. Any suggestions on how to fix this will be greatly appreciated!