Openssl error while running the React Native Project - node.js

Question

I created a react native app in vs code using command of npx create-expo-app appname and then run the project. After a while, I got this error. How can I sovle this?
Error: error:0308010C:digital envelope routines::unsupported
at new Hash (node:internal/crypto/hash:71:19)
at Object.createHash (node:crypto:133:10)
at module.exports (C:\Users\Hp\Desktop\react_native\node_modules\webpack\lib\util\createHash.js:135:53)
at NormalModule._initBuildHash (C:\Users\Hp\Desktop\react_native\node_modules\webpack\lib\NormalModule.js:417:16)
at handleParseError (C:\Users\Hp\Desktop\react_native\node_modules\webpack\lib\NormalModule.js:471:10)
at C:\Users\Hp\Desktop\react_native\node_modules\webpack\lib\NormalModule.js:503:5
at C:\Users\Hp\Desktop\react_native\node_modules\webpack\lib\NormalModule.js:358:12
at C:\Users\Hp\Desktop\react_native\node_modules\loader-runner\lib\LoaderRunner.js:373:3
at iterateNormalLoaders (C:\Users\Hp\Desktop\react_native\node_modules\loader-runner\lib\LoaderRunner.js:214:10)
at Array. (C:\Users\Hp\Desktop\react_native\node_modules\loader-runner\lib\LoaderRunner.js:205:4)
at Storage.finished (C:\Users\Hp\Desktop\react_native\node_modules\enhanced-resolve\lib\CachedInputFileSystem.js:55:16)
at C:\Users\Hp\Desktop\react_native\node_modules\enhanced-resolve\lib\CachedInputFileSystem.js:91:9
at C:\Users\Hp\Desktop\react_native\node_modules\graceful-fs\graceful-fs.js:123:16
at FSReqCallback.readFileAfterClose [as oncomplete] (node:internal/fs/read_file_context:68:3) {
opensslErrorStack: [ 'error:03000086:digital envelope routines::initialization error' ],
library: 'digital envelope routines',
reason: 'unsupported',
code: 'ERR_OSSL_EVP_UNSUPPORTED'
}
Node.js v18.11.0
Some solutions suggest that the node version should be downgraded. So I tried it, but it did not work.