When you face Permission Convert Leads depends on permission(s): Create Account, Edit Lead error while deploying, make sure that you give Create Access to Account and Edit access to Lead.

In case, Account and Lead permissions are not included in the deployment list, update the profile directly in the destination organization to give Create Access to Account and Edit access to Lead.

Without  Create Access to Account and Edit access to Lead, you cannot deploy the profile since the Lead conversion requires  give Create Access to Account and Edit access to Lead.

Cheers!!!