Lightroom catalog file is not recognized on new Macbook Pro M1 chip. Lightroom 5.0

Hi, I'm transfering to the latest macBook pro with M1 chip from 2013 macbook (Catalina), where I have Lightroom. I did all the steps with copying the Lightroom folder with the catalog file and all the backups into the new computer, downloaded the latest Lightroom version and when I double click the catalog to open Lightroom doesn't recognize it and shows the esclamation mark (see the screenshot). I aslo try to import profiles and presents from within the Lightroom, but the files are inactive (see the screenshot).

I tried all the suggestions I could find on internet on how to fix it, even tried to copy the catalog to new computer fom different hard drives, but there must be something with the file itself or the system that doesn't recognize it. Not sure, please help!