IR-Retargeter : The target animation sways around the root: UE 5.7

I have my own model rigged and exported from Blender using auto-rig pro with UE preset. I have animation on a 3D model (yellow) that I want that I want to transfer to my own model (brown jacket).

In the attached image, you can see that I have created the IK rig for both of them and assigned the pelvis bone. I set the pelvis motion and Root motion as below images

When I play the animation, everything works but the target model animation sways around the root making the legs float, while the source is fixed with foot not moving.

I have tired messing with various options but I cannot seems to find a solution. Any insight or help is appreciated. Thank you.