INAV angle + alt hold

[jarvis1234d]

I am using inav configurator 7.1.2 and inav firmware 7.1.1.

My FC is speedybee f405 v4 (It has barometer).
My quad does not have a GPS and magnetometer.

I want the quad to hold altitude where I leave the throttle stick. If I increase the throttle the alt should increase and when I decrease it it should descend.
When I let go of the throttle the quad should hold that height and should be able to change roll, pitch, and yaw.

As far as I know this should be possible with the hardware I have.

These are the screenshot of my modes and advanced tuning tab.

(CH 7 is a 3 state switch )

My quad is not holding its altitude in this setup.
Please help me understand what I am doing wrong.