Thanks for the response. Yes, this approach indeed solved my issue.
The only problem I see with this approach is the performance overhead of additional serialization and de-serialization cost.
With this approach report flows is pretty much like the following.
Download RDL -> Deserialize RDL -> Serialize RDL-> SF Deserialize RDL Stream -> SF RDL Rendering
Without my intervention, if I provide the RDL path to Syncfusion then
SF Download RDL -> SF Deserialize RDL -> SF RDL Rendering
So additional steps highlighted with the red had to be done with this approach. So that slows down the performance of the report rendering.
Regards.