Android Gradle plugin 7.1.x and Intellij IDEA 2022.1.3

After upgrading to android gradle tools version 7.1.3 from 7.0.4 intellij IDEA has stopped working:

This version of the Android Support plugin for IntelliJ IDEA (or Android Studio) cannot open this project, please retry with version 2021.1.1 or newer.

Intellij version:
IntelliJ IDEA 2022.1.3 (Ultimate Edition)
Build #IU-221.5921.22, built on June 21, 2022

Gradle version: 7.2

If i upgrade gradle to version 7.3.3 and try to use the gradle tools of version 7.2.1 i get the following error instead:

This version of the Android Support plugin for IntelliJ IDEA (or Android Studio) cannot open this project, please retry with version 2021.2.1 or newer.

What is the fix to be able to actually use the gradle tools of version 7.1+, or is the only way here to downgrade the gradle tools?