Hi @akhil__ ,
Thank you for your interest in the NXP MIMXRT product, I would like to provide service for you.
I think, it may related to your used class 4 SD card, as my side, all are class 4 sd card:

You also need to do the FAT32 format at first:

Then I run the SDK2.15.0 for RT1170-EVK board:

If you use the NXP MIMXRT1170-EVK board, you also need to solder R136.
This is my test result:


You can see, my class 4 SD card is working OK.
Maybe you also can find one sandisk micro sdhc class 4 to test it.
Wish it helps you!
if you still have question about it, please kindly let me know.
If your question is solved, please help me to mark the correct answer, just to close this case, thanks.
Any new issues, welcome to create the new case.
Best Regards,
kerry