Low Quality and Resolution of Resized Images using Intervention Image v3

I am using the Intervention Image library (version 3) in my Laravel project to create thumbnails from a high-resolution image (770×770). Despite setting high quality parameters, the resulting thumbnails are of low quality and poor resolution.

Image on left is the thumbnail (100 * 100), the one on right is the orignal image

  $sizes = [300, 150, 100, 50, 30];
  $image = Image::read($logo); // webp image
  $maxDimension = max($image->width(), $image->height());

   // Resize canvas to make the image square
  $image->resizeCanvas(
    $maxDimension,
    $maxDimension,
    'ffffff00',
    'center'
  );

  foreach ($sizes as $size) {
     $new_image = clone $image;
     $new_image->resize($size, $size, function ($constraint) {
         $constraint->aspectRatio();
         $constraint->upsize();
     });
     $new_image->resizeCanvas(
         $size,
         $size,
         'ffffff00',
         'center'
     );
     $new_image->save($thumb_path, 100, 'webp');
   }

Expected Behavior:
The resized thumbnails should retain high resolution and clarity, similar to the original high-resolution image.

Actual Behavior:
The resulting thumbnails appears to have low quality and poor resolution.

Any insights or suggestions on how to maintain high resolution and clarity for small thumbnails using the Intervention Image library would be greatly appreciated. Thank you!