"Invalid App Store icon" error was removed after I followed the answer posted by Mycah in this StackOverflow post to save the icons without the alpha channel. Then I recreated the AppIcons set in the Assets of Asset Catalog for iOS project.
The two "Invalid Executable Size" errors were removed by using the "Link All" option. I did test this in debug mode on simulators for proper functioning of all features of my app.
Then I created the .ipa through the Archive option in VS2019 and validated it from Xcode as described above.
Now there are no errors to submit the app to App Store.