Thanks for the info, Gunther.
The Problem here is the peer end ( AWS) uses a permanent tunnel with DPD which cannot be changed. Hence it is required to enable the same at CheckPoint end.
I have referred the mentioned SK and also the VPN admin guide but still, I feel that it is clearly not stated whether to enable both the Permanent tunnel option from the VPN community and DPD or just the DPD from Guidbedit.
I tested this in the lab between to Check Point device enabling both Permanent tunnel option and changing the tunnel testing to DPD.
Observation: In spite of disabling the default "tunnel testing" feature which works on port 18234 I can still see traffic exchanged with these ports as shown below.