Automatically fetching IP lookup data failed

Your software
My Mautic version is: 4.1.0
My PHP version is: PHP 7.4.28
My Database type and version is: MariaDB 10.7.3

Your problem
After creating the Maxmind account and license key according Mautic official documentation the “Fetch IP Lookup Datastore” gives me the following error on the browser console:
POST 500 (Internal Server Error) - libraries.js?v7dde1804:766

Also, running manually the cli command
php /var/www/html/mautic/bin/console mautic:iplookup:download
I get the error
Automatically fetching IP lookup data failed.