Replying to myself with the feedback that I have received from IB:
"Please be informed that the minimum system requirement for TWS on PC is Windows 10 on higher.
We are not supporting errors on Windows 7.
Based on your report you are using Mac OS 10.14.6 which has been released in 2018. Minimum operating system requirement to run TWS on a MAC is MAC OS 11.
Please update your Mac OS on the latest version if it is possible and try again.
Please take care that you are installing the correct version for your Intel or Apple Silicon Processor."
These issues are very likely caused by older operating systems no longer being supported by current Java versions.
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