Gulp Build cmd fails with error cannot find module node:path

Question

I am working on multiple projects with different node versions. I have installed nvm for that. Here is the detail about my dev env:

1. node versions 18.19.0 and 14.15.0
2. npm version 6.14.8
3. Gulp CLI version 2.3.0
4. Gulp local version 4.0.2

I am using node version 14.15.0 to build the project which I downloaded from Git.

I ran npm-install cmd after downloading the project to install dependencies. When I run "Gulp Build", I get the following error:

gulp build Error: Cannot find module 'node:path' Require stack:

`- C:\\repos\<PROJECT FOLDER\>\\node_modules@microsoft\\rush-lib\\dist\\rush-lib.js
- C:\\repos\<PROJECT FOLDER\>\\node_modules@microsoft\\rush-lib\\lib\\index.js
- C:\\repos\<PROJECT FOLDER\>\\node_modules@microsoft\\spfx-heft-plugins\\lib\\plugins\\devDeployPlugin\\SpDevDeploy.js
- C:\\repos\<PROJECT FOLDER\>\\node_modules@microsoft\\spfx-heft-plugins\\lib\\index.js
- C:\\repos\<PROJECT FOLDER\>\\node_modules@microsoft\\sp-build-core-tasks\\lib\\webpack\\ConfigureWebpackTask.js
- C:\\repos\<PROJECT FOLDER\>\\node_modules@microsoft\\sp-build-core-tasks\\lib\\index.js
- C:\\repos\<PROJECT FOLDER\>\\node_modules@microsoft\\sp-build-web\\lib\\index.js
- C:\\repos\<PROJECT FOLDER\>\\gulpfile.js
- C:\\Users\\USRNAME\\AppData\\Roaming\\nvm\\v14.15.0\\node_modules\\gulp-cli\\lib\\shared\\require-or-import.js
- C:\\Users\\USRNAME\\AppData\\Roaming\\nvm\\v14.15.0\\node_modules\\gulp-cli\\lib\\versioned^4.0.0\\index.js
- C:\\Users\\USRNAME\\AppData\\Roaming\\nvm\\v14.15.0\\node_modules\\gulp-cli\\index.js
- C:\\Users\\USRNAME\\AppData\\Roaming\\nvm\\v14.15.0\\node_modules\\gulp-cli\\bin\\gulp.js
  at Function.Module.\_resolveFilename (internal/modules/cjs/loader.js:880:15)
  at Function.Module.\_load (internal/modules/cjs/loader.js:725:27)
  at Module.require (internal/modules/cjs/loader.js:952:19)
  at require (internal/modules/cjs/helpers.js:88:18)
  at Object.149411 (C:\\repos\<PROJECT FOLDER\>\\node_modules@microsoft\\rush-lib\\dist\\rush-lib.js:461:18)
  at __webpack_require__ (C:\\repos\<PROJECT FOLDER\>\\node_modules@microsoft\\rush-lib\\dist\\rush-lib.js:562:41)
  at Object.74151 (C:\\repos\<PROJECT FOLDER\>\\node_modules@microsoft\\rush-lib\\dist\\commons.js:18203:67)
  at __webpack_require__ (C:\\repos\<PROJECT FOLDER\>\\node_modules@microsoft\\rush-lib\\dist\\rush-lib.js:562:41)
  at Object.62165 (C:\\repos\<PROJECT FOLDER\>\\node_modules@microsoft\\rush-lib\\dist\\commons.js:10485:93)
  at __webpack_require__ (C:\\repos\<PROJECT FOLDER\>\\node_modules@microsoft\\rush-lib\\dist\\rush-lib.js:562:41) {
  code: 'MODULE_NOT_FOUND',
  requireStack: \[
  'C:\\repos\\\<PROJECT FOLDER\>\\node_modules\\@microsoft\\rush-lib\\dist\\rush-lib.js',
  'C:\\repos\\\<PROJECT FOLDER\>\\node_modules\\@microsoft\\rush-lib\\lib\\index.js',
  'C:\\repos\\\<PROJECT FOLDER\>\\node_modules\\@microsoft\\spfx-heft-plugins\\lib\\plugins\\devDeployPlugin\\SpDevDeploy.js',
  'C:\\repos\\\<PROJECT FOLDER\>\\node_modules\\@microsoft\\spfx-heft-plugins\\lib\\index.js',
  'C:\\repos\\\<PROJECT FOLDER\>\\node_modules\\@microsoft\\sp-build-core-tasks\\lib\\webpack\\ConfigureWebpackTask.js',
  'C:\\repos\\\<PROJECT FOLDER\>\\node_modules\\@microsoft\\sp-build-core-tasks\\lib\\index.js',
  'C:\\repos\\\<PROJECT FOLDER\>\\node_modules\\@microsoft\\sp-build-web\\lib\\index.js',
  'C:\\repos\\\<PROJECT FOLDER\>\\gulpfile.js',
  'C:\\Users\\USRNAME\\AppData\\Roaming\\nvm\\v14.15.0\\node_modules\\gulp-cli\\lib\\shared\\require-or-import.js',
  'C:\\Users\\USRNAME\\AppData\\Roaming\\nvm\\v14.15.0\\node_modules\\gulp-cli\\lib\\versioned\\^4.0.0\\index.js',
  'C:\\Users\\USRNAME\\AppData\\Roaming\\nvm\\v14.15.0\\node_modules\\gulp-cli\\index.js',
  'C:\\Users\\USRNAME\\AppData\\Roaming\\nvm\\v14.15.0\\node_modules\\gulp-cli\\bin\\gulp.js'
`

I am relatively new to Typescript, React etc. and looking for suggestions to resolve this issue. Your help is greatly appreciated.

I have googled extensively about this error and tried all the solutions provided for gulp command line error but no success yet.