Hello,
This is not working because when you are submitting the record, you are pushing read only columns also.
so you will have to drop the columns.
If you hover over your formula it will show the readonly fields which you are pushing so drop them and then Patch.
Below is Sample formula where I am dropping the read-only columns of my list.
Set(RecordToCopy,First(DropColumns(Filter(TeamDetails,ID=1),"ID","Modified")));
Set(NewRecord,Patch(TeamDetails,Defaults(TeamDetails)));
Patch(TeamDetails,NewRecord,RecordToCopy)
you can see the read only field causing the error by hovering over the formula:
