Upgradede Pgadmin4 to v6.12 - new startup error

This was just a regular upgrade (I went through dozens of these).
The new 6.12 version fails to start with the following error message:

File "lib/python3.8/site-packages/pgadmin4/pgAdmin4.py", line 93, in
<module>
app = create_app()
File
"/path-to/opt/pgadmin4/lib/python3.8/site-packages/pgadmin4/pgadmin/__init__.py",
line 270, in create_app
create_app_data_directory(config)
File
"/path-to/opt/pgadmin4/lib/python3.8/site-packages/pgadmin4/pgadmin/setup/data_directory.py",
line 117, in create_app_data_directory
_create_directory_if_not_exists(config.AZURE_CREDENTIAL_CACHE_DIR)
File
"/path-to/opt/pgadmin4/lib/python3.8/site-packages/pgadmin4/pgadmin/setup/data_directory.py",
line 20, in _create_directory_if_not_exists
os.mkdir(_path)
FileNotFoundError: [Errno 2] No such file or directory:
'/var/lib/pgadmin/azurecredentialcache'

My setup has absolutely nothing to do with Azure. I use python wheel having
PgAdmin installed in an unprivileged environment, so I am puzzled why it is
all of sudden trying to look for something in "/var/lib/pgadmin" or create
things there?