On a CentOS installation over Oracle Cloud, when running dnf or yum, you may get the error:
Invalid configuration value: failovermethod=priority in /etc/yum.repos.d/litespeed.repo; Configuration: OptionBinding with id "failovermethod" does not exist
To solve the issue, using the command line tool sed, we first start off by making a backup of the repository files:
sudo sed -iBAK '/^failovermethod=/d' /etc/yum.repos.d/*.repo
Then we use the sed command again to remove the problematic parameter in the repository files:
sudo sed '/^failovermethod=/d' /etc/yum.repos.d/*.repo
Once you have done it, you can run dnf to check whether the error appears again:
dnf upgrade
Source: https://communicode.io/how-to-fix-failovermethod-error-fedora/