Can anyone help me out.
Take a look at the Monitoring Console to see what searches are being delayed and why. Go to Monitoring Console -> Search -> Scheduler Activity: Instance and take a look at the "Count of Skipped Reports by Name and Reason"
It could be there are multiple searches running at the same time.
What type of server is having this error? Is it a normal Search Head or is it a Search Head running correlational searches (Ex: Enterprise Security)?
Yes, facing this issue in Enterprise Security.
Since it is affecting Enterprise Security I would assume that you have many correlational searches enabled. 🙂
Are you familiar with Correlational searches?
It sounds like you may need to disable the searches that are not required for your Use case.