Connect sequelize to SQL Server database on node 18

I am unable to connect my node application using sequelize to connect to SQL Server database on node 18 environment. It is connecting fine on node 16 .

my package-json 
 "dependencies": {
    "cookie-parser": "~1.4.6",
    "debug": "~4.3.4",
    "express": "~4.18.1",
    "http-errors": "~2.0.0",
    "jade": "~1.11.0",
    "morgan": "~1.10.0",
    "sequelize": "^6.0.0",
    "tedious": "^8.3.0"
  }

    let sequelize = new Sequelize('database', 'username', 'passoword', {
      host: '192.168.106.10',
      dialect: 'mssql',
      logging: console.log,
      driver: 'tedious',
      pool: {
        max: 100,
        min: 0,
        idle: 10000
      },
      'options':{'encrypt':false}
    });
    
    sequelize.authenticate().then(() => {
      console.log('Connection to database has been established successfully.');
    }).catch(err => {
      console.log('Unable to connect to database:', err);
    });

My guess is that it is due to version incompatibility, any help is highly appreciated.