I'm trying to perform git p4 clone but it doesn't seem to work

git p4 clone -v //path/to/my/depot/branches/mybranch
Importing from //path/to/my/depot/branches/mybranch into my-branch
Reinitialized existing Git repository in /Users/<user>/Projects/my-branch/.git/
Reading pipe: git config --bool git-p4.useclientspec
Reading pipe: git config git-p4.user
Reading pipe: git config git-p4.password
Reading pipe: git config git-p4.port
Reading pipe: git config git-p4.host
Reading pipe: git config git-p4.client
Reading pipe: git config --int git-p4.retries
Reading pipe: git config --int git-p4.retries
Opening pipe: p4 -r 3 -G login -s
Opening pipe: p4 -r 3 -G login -s
Doing initial import of //path/to/my/depot/branches/mybranch from revision #head into refs/remotes/p4/master
Opening pipe: p4 -r 3 -G files //path/to/my/depot/branches/mybranch...#head
.... 
// gets stuck here forever

Perforce client error:
    TCP receive failed.
    read: socket: Operation timed out
p4 returned an error: TCP receive failed.
read: socket: Operation timed out

Before this, I performed

p4 login
Enter password: 
User <User> logged in.

my ~/.zshrc file has entries like

export P4USER=<username>
export P4PASS=<password>
export P4PORT=perforce:1666
export P4HOST=MBP-<username>.local

executing the p4 command standalone without the -G flag works

p4 files //path/to/my/depot/branches/mybranch...#head

However with the -G flag the command doesn't work.

I'm using MacOS 15.1 with Python 3.9.6