Hi Gopalan,
Please see if repairing the MicrosoftWindows.Client.CBS component fixes the clipboard issue.
Launch PowerShell as administrator.
Run the following command and press Enter:
Get-AppxPackage -AllUsers MicrosoftWindows.Client.CBS | Foreach {Add-AppxPackage -DisableDevelopmentMode -Register "$($_.InstallLocation)\AppXManifest.xml" -ForceApplicationShutdown}
Restart Windows.