SMIME Certificate required to be in Keychain (MacOS)

Hi! I have imported my .p12 file with the S/MIME certificate into eM Client and I am able to send encrypted emails. However, when receiving encrypted emails, I am getting an error (private key missing).

This can be solved by importing the certificate into the local Keychain, but then I need to enter my macOS password every time I receive an encrypted email which makes it very unattractive to use email encryption by default.

I do not understand why the certificate imported in eM Client cannot be used to decrypt emails.