Fatal error: Declaration of RulesRuleUI::form ... must be compatible with RulesActionContainerUi::form [Solved]

When PHP version 7.2 is enabled, Rules generates a Fatal Error when the UI is enabled:

( ! ) Fatal error: Declaration of RulesRuleUI::form(&$form, &$form_state, $options = Array) must be compatible with RulesActionContainerUI::form(&$form, &$form_state, $options = Array, $iterator = NULL) in /sites/all/modules/contrib/rules/ui/ui.plugins.inc on line 0

Seems like wrong implementation of OOP, more specifically the Liskov substitution principle