Fatal error: Class "Drupal\package_manager\StageBase" not found

Problem/Motivation

I updated ckeditor5_plugin_pack to 1.4.0 which installed 1.5.0 version of ckeditor5_premium_features and the site started experiencing fatal errors when I ran drush cr or drush updb:

PHP Fatal error: Uncaught Error: Class "Drupal\package_manager\StageBase" not found in /var/www/html/public_html/modules/contrib/ckeditor5_premium_features/src/ComposerInstaller/Installer.php:17

I searched for the StageBase class in the Package Manager module and found it has been renamed to SandboxManagerBase as per this change record, https://www.drupal.org/node/3521441 →

Steps to reproduce

1. Update CKEditor 5 Premium Features to the latest version
2. Run drush cr
3. Fatal error occurs