Project verification fails with "The specified network password is not correct. " for local admin account (4293108)

Please use following articles to set equal settings on all servers involved in the process (DC, backup share and RMAD server)

https://docs.microsoft.com/en-gb/windows/security/threat-protection/security-policy-settings/network-security-lan-manager-authentication-level

Following article contains a table with default settings for different OS\Functional levels:

https://ss64.com/nt/syntax-ntlm.html

Best practices are dependent on your specific security and authentication requirements.

If LMCompatibilityLevel on a server is increased to 4 or 5 for better security, any Windows XP/2000 user who tries to authenticate will experience a logon failure that has a bad password and increments the bad password count. If account lock-out is configured, the user will eventually be locked out.

Increasing the LMCompatibilityLevel above 3 on a client will make no difference, but it can be lowered if there is a need to communicate with very old servers.

The NTLM version (0-5) is stored in the registry (as a DWORD):
HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Control\LSA\LMCompatibilityLevel

or it can be set in the local Security policy (secpol.msc) 
under: Local policies\Security Options\Network Security: LAN Manager Authentication level