ngx-color-picker installation getting an error

I'm trying to install ngx-color-picker in my Angular application following these instructions:

https://www.npmjs.com/package/ngx-color-picker/v/16.0.0

Installing it using the command below works successfully:

npm install ngx-color-picker --save

I can run ng serve and no error occurs.

But when I import it like below:

import { ColorPickerModule } from 'ngx-color-picker';

@NgModule({
...
imports: [
...
ColorPickerModule
]
})


I get this error when executing ng serve:

Error: node_modules/ngx-color-picker/lib/color-picker.directive.d.ts:108:103 - error TS2344: Type '{ colorPicker: { alias: "colorPicker"; required: false; }; cpWidth: { alias: "cpWidth"; required: false; }; cpHeight: { alias: "cpHeight"; required: false; }; cpToggle: { alias: "cpToggle"; required: false; }; ... 33 more ...; cpExtraTemplate: { ...; }; }' does not satisfy the constraint '{ [key: string]: string; }'.
Property '"colorPicker"' is incompatible with index signature.
Type '{ alias: "colorPicker"; required: false; }' is not assignable to type 'string'.


I'm using Angular 15.

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