Hi Satish,
Thank you for providing the details, I was now able to reproduce the same warnings and consequently errors when building the project. I believe this is a bug concerning the config tools. I have reported this and will get back to you as soon as I get information on how to fix this.
In the meantime can you try this to see if this solves the issue for now. I was able to remove any errors when building the same project by doing the following. When you right click the warning to initialize the UART module, I unchecked the box that states "Show only the latest component versions". This now showed two options I click the earlier version of the UART 2.1.4, pressed ok. Now I have no errors or warning and when I built the project I also did not get any further errors.

Thank you for your patience,
Sabina