Errors opening old projects in Photoshop 2024 (v25.1)

When I launch my old projects in Photoshop 2024 (v25.1) I get the following error:

Some text layers might need to be updated before they can be used for vector based output. Do you want to update these layers now?

Whenever I try to add any new text I get the following error:
Could not complete your request because something prevented the text engine from being initialized.

Converting the text layer to a smart object fixes the issue, but I need to hjave these layers as native text in the main project file.

MacOS 13.0 (22A380)