.NET Core 3.0 and IIS: HTTP Error 500.30 - ANCM In-Process Start Failure: failed to load coreclr

My application runs fine within IIS Express on my development workstation, but I am having trouble deploying it to IIS. I receive the following error when I browse to the application:

HTTP Error 500.30 - ANCM In-Process Start Failure

There's not much in the Windows Event Log:

Application '/LM/W3SVC/2/ROOT' with physical root 'c:\inetpub\cashflow\' failed to load coreclr. Exception message:
Error occured when initializing inprocess application, Return code: 0x80008083

As far as I can see, the application runs fine when invoked from the command line:

Here's what I see in the failed request trace: (I'm a bit mystified as to why files are identified as F:... Tehre is no F:\ drive on this machine!)

Sorry, I am unable to provide the full trace XML as it exceeds 100,000 characters. If there is somethign specific you'd like to see let me know and I'll try to provide the relevant snippet. Thanks for any advice which you can provide!

I changed the specification in Web.config to run out of process. Originally the specification was for InProcess as follows:

  <aspNetCore processPath="dotnet" arguments=".\Cashflow.dll" stdoutLogEnabled="false" hostingModel="InProcess" stdoutLogFile=".\logs\stdout">

I changed this to OutOfProcess:

  <aspNetCore processPath="dotnet" arguments=".\Cashflow.dll" stdoutLogEnabled="false" hostingModel="OutOfProcess" stdoutLogFile=".\logs\stdout">

and Bingo! The application runs as expected.

Can anyone explain why?