How to resolve mochawesome reports in webdriver.io framework getting error TypeError: ReporterClass is not a constructor

Question

I have added the below dev dependencies for mochawesome reports in my webdriver.io framework.

"wdio-dot-reporter": "0.0.10",
"wdio-mochawesome-reporter": "^4.0.0"

My wdio.conf file looks like below

 reporters: [
    'dot',
    [
      'mochawesome',
      {
        outputDir: './Results',
      },
    ],
  ],

When I am trying to run my tests getting the below error:

[0-0] 2021-12-24T09:20:57.498Z ERROR @wdio/local-runner: Failed launching test session: TypeError: ReporterClass is not a constructor
    at BaseReporter.initReporter (/Users/id856795/myproximus-rn/node_modules/@wdio/runner/build/reporter.js:101:20)
    at Array.map (<anonymous>)
    at new BaseReporter (/Users/id856795/myproximus-rn/node_modules/@wdio/runner/build/reporter.js:21:50)
    at Runner.run (/Users/id856795/myproximus-rn/node_modules/@wdio/runner/build/index.js:45:26)
    at processTicksAndRejections (internal/process/task_queues.js:95:5)
/Users/id856795/myproximus-rn/node_modules/@wdio/cli/build/interface.js:127
            throw new Error('Could not find job');
            ^

Error: Could not find job