Applying watermark on image caused the watermark to be shown in purple

[aliIb96]

I am trying to apply watermark when a user uploaded an image to s3.
The image is retrieved from aws s3 bucket and then we pass the file to the following function.

    private function applyWatermark($file, $fileName)
    {
        $filePath = Media::CAR_IMAGES_DIRECTORY . '/' . $fileName;
        Storage::disk('public')->put($filePath, $file->getContent());
        $fullPath = storage_path('app/public/' . $filePath);
        $image = Image::load($fullPath);
        $targetWidth = $image->getWidth();
        $targetHeight = $image->getHeight() * self::RESIZING_WIDTH_PERCENTAGE;
        $image = $image->watermark(public_path('BACWatermark.png'), AlignPosition::Center, width: $targetWidth, height: $targetHeight, fit: Fit::Stretch, alpha: 20);
        $image->save($fullPath);
        return new UploadedFile($fullPath, $fileName);
    }
   

It works fine with the standard types, but in case the user uploaded heic image, the watermark turned into purple color.