RN FastImage react-native-fast-image failing with error "Generatedappglidemodule impl is implemented incorrectly"

Trying to integrate React Native Fast Image library https://github.com/DylanVann/react-native-fast-image. Package installation and linking is fine which generated

package.json

"react-native-fast-image": "^8.3.3"

MainApplicaition.java

import com.dylanvann.fastimage.FastImageViewPackage;

build.gradle

implementation project(':react-native-fast-image')

settings.gradle

include ':react-native-fast-image'
project(':react-native-fast-image').projectDir = new File(rootProject.projectDir, 
'../node_modules/react-native-fast-image/android')

Usage in .ts file

import FastImage from 'react-native-fast-image'

<FastImage
        style={{ width: 200, height: 200 }}
        source={{
          uri: 'https://unsplash.it/400/400?image=1',
          //headers: { Authorization: 'someAuthToken' },
          priority: FastImage.priority.normal,
        }}
        resizeMode={FastImage.resizeMode.contain}
      />

But every time getting the following error on android (haven't checked on iOS till now), although I have tried deleting node_modules, clearing watchman cache, tried adding excludeAppGlideModule = true as root project variable, downgrading the library version till 8.3.3 and added prograurd rules.

We are not using Glide dependency by using Picasso dependency.

Thanks for the help.