composer: Second run of the latest composer install results in error: Call to undefined method Composer\Util\Http\ProxyManager::needsTransitionWarning()

My composer.json:

{
    "name": "laravel/laravel",
    "type": "project",
    "description": "The Laravel Framework.",
    "keywords": [
        "framework",
        "laravel"
    ],
    "license": "MIT",
    "require": {
        "arcanedev/log-viewer": "^8.0",
        "doctrine/dbal": "^2.12.1",
        "fideloper/proxy": "^4.4.1",
        "guzzlehttp/guzzle": "^7.0.1",
        "inspector-apm/inspector-laravel": "^4.7",
        "laravel/framework": "^8.0",
        "laravel/tinker": "^3.0",
        "laravel/ui": "^3.0",
        "laravelcollective/html": "^6.2.0",
        "maatwebsite/excel": "^3.1",
        "sentry/sentry-laravel": "*",
        "yoeunes/notify": "^1.0.6"
    },
    "require-dev": {
        "barryvdh/laravel-debugbar": "^3.5",
        "barryvdh/laravel-ide-helper": "^2.12",
        "beyondcode/laravel-dump-server": "^1.6",
        "filp/whoops": "^2.9",
        "fzaninotto/faker": "*",
        "mockery/mockery": "^1.4",
        "nunomaduro/collision": "^5.0",
        "nunomaduro/larastan": "^0.6.2",
        "phpstan/phpstan": "^0.12",
        "phpunit/phpunit": "^9.0"
    },
    "config": {
        "optimize-autoloader": true,
        "preferred-install": "dist",
        "sort-packages": true
    },
    "extra": {
        "laravel": {
            "dont-discover": []
        }
    },
    "autoload": {
        "psr-4": {
            "App\\": "app/"
        },
        "classmap": [
            "database/seeds",
            "database/factories"
        ]
    },
    "autoload-dev": {
        "psr-4": {
            "Tests\\": "tests/"
        }
    },
    "minimum-stability": "dev",
    "prefer-stable": true,
    "scripts": {
        "post-autoload-dump": [
            "Illuminate\\Foundation\\ComposerScripts::postAutoloadDump",
            "@php artisan package:discover --ansi"
        ],
        "post-root-package-install": [
            "@php -r \"file_exists('.env') || copy('.env.example', '.env');\""
        ],
        "post-create-project-cmd": [
            "@php artisan key:generate --ansi"
        ]
    }
}

Output of composer diagnose:

Checking composer.json: WARNING
require.sentry/sentry-laravel : unbound version constraints (*) should be avoided
Checking platform settings: OK
Checking git settings: OK git version 2.34.1
Checking http connectivity to packagist: OK
Checking https connectivity to packagist: OK
Checking github.com rate limit: OK
Checking disk free space: OK
Checking pubkeys: FAIL
Missing pubkey for tags verification
Missing pubkey for dev verification
Run composer self-update --update-keys to set them up
Checking Composer version: OK
Checking Composer and its dependencies for vulnerabilities: OK
Composer version: 2.7.3
PHP version: 8.1.27
PHP binary path: /usr/bin/php8.1
OpenSSL version: OpenSSL 3.0.2 15 Mar 2022
cURL version: 7.81.0 libz 1.2.11 ssl OpenSSL/3.0.2
zip: extension present, unzip present, 7-Zip not available

When I run this command:

rm -rf vendor
# first run works correctly
composer install --prefer-dist --optimize-autoloader -vvv
# second run will give error described below
composer install --prefer-dist --optimize-autoloader -vvv

I get the following output:

Running 2.7-dev+9f84f0c32bdf15bce9e6cf14a96dec8b2bd443c4 (2024-04-19 19:40:58) with PHP 8.1.27 on Linux / 5.15.0-105-generic
Reading ./composer.json (/home/ploi/xxx/composer.json)
Loading config file ./composer.json (/home/ploi/xxx/composer.json)
Checked CA file /etc/pki/tls/certs/ca-bundle.crt does not exist or it is not a file.
Checked directory /etc/pki/tls/certs/ca-bundle.crt does not exist or it is not a directory.
Checked CA file /etc/ssl/certs/ca-certificates.crt: valid
Executing command (/home/ploi/xxx): 'git' 'branch' '-a' '--no-color' '--no-abbrev' '-v'
Failed to initialize global composer: Composer could not find the config file: /home/ploi/.config/composer/composer.json

Reading ./composer.lock (/home/ploi/xxx/composer.lock)
Reading /home/ploi/xxx/vendor/composer/installed.json
Installing dependencies from lock file (including require-dev)
Verifying lock file contents can be installed on current platform.
Reading ./composer.lock (/home/ploi/xxx/composer.lock)
Built pool.
Generating rules
Resolving dependencies through SAT
Looking at all rules.

Dependency resolution completed in 0.000 seconds
Nothing to install, update or remove
Package swiftmailer/swiftmailer is abandoned, you should avoid using it. Use symfony/mailer instead.
Package yoeunes/notify is abandoned, you should avoid using it. Use php-flasher/flasher-laravel instead.
Package fzaninotto/faker is abandoned, you should avoid using it. No replacement was suggested.
Generating optimized autoload files
> post-autoload-dump: Illuminate\Foundation\ComposerScripts::postAutoloadDump
> post-autoload-dump: @php artisan package:discover --ansi
Executing command (CWD): '/usr/bin/php8.1' -d allow_url_fopen='1' -d disable_functions='' -d memory_limit='-1' artisan package:discover --ansi
Discovered Package: arcanedev/log-viewer
Discovered Package: barryvdh/laravel-debugbar
Discovered Package: barryvdh/laravel-ide-helper
Discovered Package: beyondcode/laravel-dump-server
Discovered Package: fideloper/proxy
Discovered Package: inspector-apm/inspector-laravel
Discovered Package: laravel/tinker
Discovered Package: laravel/ui
Discovered Package: laravelcollective/html
Discovered Package: maatwebsite/excel
Discovered Package: nesbot/carbon
Discovered Package: nunomaduro/collision
Discovered Package: sentry/sentry-laravel
Discovered Package: yoeunes/notify
Package manifest generated successfully.
105 packages you are using are looking for funding.
Use the `composer fund` command to find out more!

In Application.php line 403:
                                                                                      
  [Error]                                                                             
  Call to undefined method Composer\Util\Http\ProxyManager::needsTransitionWarning()  
                                                                                      

Exception trace:
  at phar:///usr/local/bin/composer/src/Composer/Console/Application.php:403
 Composer\Console\Application->doRun() at phar:///usr/local/bin/composer/vendor/symfony/console/Application.php:171
 Symfony\Component\Console\Application->run() at phar:///usr/local/bin/composer/src/Composer/Console/Application.php:147
 Composer\Console\Application->run() at phar:///usr/local/bin/composer/bin/composer:93
 require() at /usr/local/bin/composer:30

And I expected this to happen:

I expect the second run to also end without error. Tried the snapshot composer version and the error is still present.

The error is on this line: https://github.com/composer/composer/blame/9f84f0c32bdf15bce9e6cf14a96dec8b2bd443c4/src/Composer/Console/Application.php#L403

And we can see that the bug was introduced 3 days ago in a big pull request: https://github.com/composer/composer/pull/11915