WiFi + Bluetooth automatically switch off on Motorola Moto G40 Fusion

My Motorola Moto G40 Fusion (3 years old) has been showing connectivity issues with WiFi and Bluetooth recently. The WiFi automatically disconnects and turns off after 30-40 minutes of usage, and if try to turn it on, the button slides off with all the previously connected WiFi networks including my home router disappearing. Same issue with Bluetooth also. When I restart my phone, it turns back on but turns off automatically after some time. Have tried all measures including resetting WiFi and Bluetooth. Finally tried formatting my phone with the help of Moto desktop client hoping the issue would resolve, but after some hours the issue came back. Someone look upon this problem.