Thanks all and it is always good to have someone else provide their honest review.
A gap in study is the elephant in the room and hence I thought my only course will be to get into a diploma program and step up from there (as I did mention in my SOP). My CTO status (Jan 2020 onwards) is with a startup so not a job in the stricter sense. I have been into regular employment for 20 years though (and travelled to many places around the world). After my bachelors in Economics, I did a one year Oracle analyst program and got lucky (with some talent I guess) that I travelled up the IT ladder and made good money but in the process never pursued further education. I guess now is the time for me to do it.
Anyway, I guess I will withdraw my SDS application and seek admission in a proper university in a Bachelors program that is more suited to my profile next fall 2022.
Please let me know if you concur or have any other tip for me.
Truly appreciate all of your help my friends and good luck to you all.