spfx-fast-serve: SPFx 1.18 failed to serve - error:0308010C:digital envelope routines::unsupported

npm run serve command with node 18.17.1 for SPFx 1.18 throws below errors where as it works perfectly fine with Node v16

`ERROR in ./src/webparts/listView/components/ListView.module.scss (./node_modules/spfx-css-modules-typescript-loader!./node_modules/spfx-fast-serve-helpers/node_modules/css-loader/dist/cjs.js??ref–8-2!./node_modules/spfx-fast-serve-helpers/node_modules/postcss-loader/dist/cjs.js??ref–8-3!./node_modules/clean-css-loader/lib??ref–8-4!./node_modules/sass-loader/dist/cjs.js??ref–8-5!./src/webparts/listView/components/ListView.module.scss) Module build failed (from ./node_modules/spfx-fast-serve-helpers/node_modules/css-loader/dist/cjs.js): Error: error:0308010C:digital envelope routines::unsupported at D:\Learning\listView\src\webparts\listView\components\ListView.module.scss:1:1 at new Hash (node:internal/crypto/hash:69:19) at Object.createHash (node:crypto:133:10) at getHashDigest (D:\Learning\listView\node_modules\spfx-fast-serve-helpers\node_modules\loader-utils\lib\getHashDigest.js:46:34) at D:\Learning\listView\node_modules\spfx-fast-serve-helpers\node_modules\loader-utils\lib\interpolateName.js:113:11 at String.replace (<anonymous>) at interpolateName (D:\Learning\listView\node_modules\spfx-fast-serve-helpers\node_modules\loader-utils\lib\interpolateName.js:110:8) at defaultGetLocalIdent (D:\Learning\listView\node_modules\spfx-fast-serve-helpers\node_modules\css-loader\dist\utils.js:208:43) at generateScopedName (D:\Learning\listView\node_modules\spfx-fast-serve-helpers\node_modules\css-loader\dist\utils.js:432:24) at exportScopedName (D:\Learning\listView\node_modules\postcss-modules-scope\src\index.js:95:28) at localizeNode (D:\Learning\listView\node_modules\postcss-modules-scope\src\index.js:124:22) at Array.map (<anonymous>) at Selector.map (D:\Learning\listView\node_modules\postcss-selector-parser\dist\selectors\container.js:269:23) at localizeNode (D:\Learning\listView\node_modules\postcss-modules-scope\src\index.js:120:31) at traverseNode (D:\Learning\listView\node_modules\postcss-modules-scope\src\index.js:152:32) at Selector.each (D:\Learning\listView\node_modules\postcss-selector-parser\dist\selectors\container.js:159:16) at traverseNode (D:\Learning\listView\node_modules\postcss-modules-scope\src\index.js:175:18)

ERROR in ./src/webparts/listView/assets/welcome-light.png Module build failed (from ./node_modules/spfx-fast-serve-helpers/node_modules/file-loader/dist/cjs.js): de_modules\loader-utils\lib\interpolateName.js:110:8) at Object.loader (D:\Learning\listView\node_modules\spfx-fast-serve-helpers\node_modules\file-loader\dist\index.js:29:48)

ERROR in ./src/webparts/listView/assets/welcome-dark.png Module build failed (from ./node_modules/spfx-fast-serve-helpers/node_modules/file-loader/dist/cjs.js): Error: error:0308010C:digital envelope routines::unsupported at new Hash (node:internal/crypto/hash:69:19) at Object.createHash (node:crypto:133:10) at getHashDigest (D:\Learning\listView\node_modules\spfx-fast-serve-helpers\node_modules\loader-utils\lib\getHashDigest.js:46:34) at D:\Learning\listView\node_modules\spfx-fast-serve-helpers\node_modules\loader-utils\lib\interpolateName.js:113:11 at String.replace (<anonymous>) at interpolateName (D:\Learning\listView\node_modules\spfx-fast-serve-helpers\node_modules\loader-utils\lib\interpolateName.js:110:8) at Object.loader (D:\Learning\listView\node_modules\spfx-fast-serve-helpers\node_modules\file-loader\dist\index.js:29:48)

ERROR in chunk list-view-web-part [entry] list-view-web-part.js D:\Learning\listView\node_modules@microsoft\load-themed-styles\lib\index.js error:0308010C:digital envelope routines::unsupported`