phpStorm not recognizing PHP installed through Docker

I am running into a weird issue where phpStorm is not recognizing PHP when it is installed through Docker and setup using Docker Compose. See the image below:

Docker is up & running as per this screenshot:

Not sure what I could be missing here but is the first time it happen to me. I am using MacOS Catalina, Docker 2.3.0.2 and phpStorm 2020.1.1, can any give me some ideas?