React Context Value always default and not updated - reactjs

Question

I have created one wrapper component where I put my react context.
Inside that wrapper component I have used useEffect() hook where I fetch values from api and try to update context default values.
In my child component I tried to fetch context values but only default value of that context is fetched. So it seems that useEffect hook didnt updated my context object.
Here is wrapper component:
export const CorporateWrapper = ({ apiBaseUrl, children }) => {
const [corporateContextDefaults, setCorporateContextDefaults] = useState({});
useEffect(() => {
(async () => {
try {
const json = await fetchCorporateUserDetails(apiBaseUrl, getClientSideJwtTokenCookie());
if (json.success !== true) {
console.log(json.message);
return {
notFound: true,
};
}
console.log(json.data);
setCorporateContextDefaults({corporateId: json.data.corporate_id, corporateRole: json.data.corporate_role, corporateAdmin: json.data.corporate_role == 'Admin', corporateSuperAdmin: json.data.corporate_super_admin});
} catch (e) {
console.log(e.message);
}
})();
}, []);
return (
<CorporateProvider value={corporateContextDefaults}>
{children}
</CorporateProvider>
);
};
Here is CorporateProvider component:
import React, { useState, useContext } from "react";
const CorporateContext = React.createContext({corporateId: null, corporateRole: null,
corporateAdmin: null, corporateSuperAdmin: null});
const UpdateCorporateContext = React.createContext({});
export const useCorporateContext = () => {
return useContext(CorporateContext);
};
export const useUpdateCorporateContext = () => {
return useContext(UpdateCorporateContext);
};
export const CorporateProvider = ({ value, children }) => {
const [details, setDetails] = useState(value);
return (
<CorporateContext.Provider value={details}>
<UpdateCorporateContext.Provider value={setDetails}>
{children}
</UpdateCorporateContext.Provider>
</CorporateContext.Provider>
);
};
export default CorporateProvider;
Here is how I try to fetch context value from child component which is wrapped under wrapper component:
const { corporateId } = useCorporateContext();