Shocked New York Republicans said Rep. Elise Stefanik likely decided to end her gubernatorial campaign after President Trump hedged his endorsement — raising the prospect of her eventual defeat.

It was the second major let-down for the upstate Republican and loyal Trump backer, and prompted her to end her bid for Albany just weeks after her Nov. 7 campaign launch, despite leading in the polls.

The key moment came last week, when Trump publicly called Stefanik and primary challenger Nassau County Executive Bruce Blakeman – his longtime friend – “two fantastic people” in response to a question by The Post.

He underlined his neutrality by hosting each of them separately at the White House in the days that followed – inviting Blakeman to a White House Hanukkah reception Tuesday.

“That has to be demoralizing when you kind of hitch your wagon to him and then he doesn’t come out and emphatically endorse you,” one New York Republican operative told The Post.

“That has to be difficult, especially when you got your nomination to the UN pulled and then all of a sudden you don’t have 100 million percent backing.”

Stefanik had been tapped to become the US ambassador to the United Nations, but Trump in March pulled the nomination after the White House and House Speaker Mike Johnson concluded they needed Stefanik to remain in her seat to get Trump’a agenda through the narrowly-divided House chamber.

Stefanik now says she won’t seek re-election next year. Her current term ends in January 2027.

A second GOP operative who had backed Stefanik said the six-term lawmaker was “not happy with how the White House handled this” and that her failing to get explicit support counted as a win for Blakeman.

“Every passing day there was increasing frustration. . . . I’m sensing frustration both with being in Congress in DC politics in general, and if he’s not going to clear the field then this hurts my chances at winning then why am I doing this? This is the second time I’m being stabbed by the White House.”

The source added, “There is a genuine friendship between Bruce and Trump. I don’t know if there was that true friendship between him and the congresswoman.”

Stefanik herself pointed to the contested primary with Blakeman in comments to New York Magazine.

“This is not the right sort of array of things lining up — which is so difficult in New York, which is just incredibly difficult in a picture-perfect year — let alone with a primary and everything else.”

The White House did not immediately respond to requests for comment.

When Blakeman told The Post in an interview before announcing his campaign that “I know President Trump appreciates competition and I’m sure that he feels that nobody should be coronated,” it prompted brushback from the White House.

“Nobody should speak for President Trump, unless authorized by President Trump,” White House Press Secretary Karoline Leavitt, a former Stefanik aide, told The Post.

The latest sign that the race was splitting Trump’s loyalties came as he compared Blakeman’s uphill run to the Hanukkah miracle.

The comments came in a private White House Hanukkah reception packed with Jewish supporters, as Trump referenced the miracle of the lamp that kept burning inside the Second Temple while the Maccabees sheltered from their Greek-Syrian attackers more than 2,000 years ago.

“They found a single flask containing just enough oil to light the menorah for a single night. To their great surprise, it lasted for eight days and ignited a new era of hope. You know about that story Bruce? It’s very impressive.  Well good luck — you are a good man,” Trump said, pointing to Blakeman.

Blakeman was back at the White House Wednesday for an event with county executives, according to a source.

Days earlier Trump gushed about Stefanik (R-NY) in an Oval Office photo-op while hosting another amazing underdog: the 1980 US Olympic hockey team that upset the mighty Soviets in the “Miracle on Ice.”

Trump at the time told Stefanik she was “doing phenomenally well” and has “got a hell of a shot.”

He shared some of his personal angst: “I always hate it when two very good friends of mine are running,” in response to a question about whether he urged Blakeman to stay out of the race.

“I hope there’s not a lot of damage done,” the president fretted, while observing that sometimes “the victor ends up being much stronger” after a primary.