Extended event failing in SSAS: Error from XEvent engine: 'Target parameter at index 3 is invalid.' XEvent session creation is failed

Why is this Failing when creating an extended event in SSAS to capture data? Here is the query below:

<Create xmlns="http://schemas.microsoft.com/analysisservices/2003/engine">
  <ObjectDefinition>
    <Trace>
      <ID>SSASLogging</ID>
      <Name>SSASLogging</Name>
      <XEvent xmlns="http://schemas.microsoft.com/analysisservices/2011/engine/300/300">
        <event_session name="SSASLogging" dispatchLatency="0" maxEventSize="0" maxMemory="4" memoryPartition="none" eventRetentionMode="AllowSingleEventLoss" trackCausality="true" xmlns="http://schemas.microsoft.com/analysisservices/2003/engine">
          <event package="AS" name="ActivityBegin" />
          <event package="AS" name="AuditLogin" />
          <event package="AS" name="CommandBegin" />
          <event package="AS" name="DAXQueryPlan" />
          <event package="AS" name="ExistingConnection" />
          <event package="AS" name="ExistingSession" />
          <event package="AS" name="Error" />
          <event package="AS" name="QueryBegin" />
          <event package="AS" name="SessionInitialize" />
          <target package="package0" name="event_file">
            <parameter name="filename" value="M:\SSASLogs\SSASLogging.xel" />
            <parameter name="max_file_size" value="24" />
            <parameter name="max_rollover_files" value="999" />
            <parameter name="increment" value="1024" />
          </target>
        </event_session>
      </XEvent>
    </Trace>
  </ObjectDefinition>
</Create></Create>

I am getting this error in result:

Executing the query ... Error from XEvent engine: 'Target parameter at index 3 is invalid.' XEvent session creation is failed. Run complete.

I expected it to work but it throws error.

max_file_size is too small. Try this:

<parameter name="max_file_size" value="4096" />