PM2 not able to run docker-compose up - node.js

Question

I'm trying to start a service using docker-compose up, but pm2 is not able to execute docker-compose file. docker-compose up command runs fine if I execute it manually, it just fails when pm2 executes it
I've already tried changing PM2 and node versions according to #2961 and this but nothing worked.
more details here #5472
0|docker-s | /usr/bin/docker-compose:2
0|docker-s | # EASY-INSTALL-ENTRY-SCRIPT: 'docker-compose==1.29.2','console_scripts','docker-compose'
0|docker-s | ^
0|docker-s |
0|docker-s | SyntaxError: Invalid or unexpected token
0|docker-s | at wrapSafe (internal/modules/cjs/loader.js:1001:16)
0|docker-s | at Module._compile (internal/modules/cjs/loader.js:1049:27)
0|docker-s | at Object.Module._extensions..js (internal/modules/cjs/loader.js:1114:10)
0|docker-s | at Module.load (internal/modules/cjs/loader.js:950:32)
0|docker-s | at Function.Module._load (internal/modules/cjs/loader.js:790:12)
0|docker-s | at Object.<anonymous> (/home/gharsnull/.nvm/versions/node/v14.20.1/lib/node_modules/pm2/lib/ProcessContainerFork.js:33:23)
0|docker-s | at Module._compile (internal/modules/cjs/loader.js:1085:14)
0|docker-s | at Object.Module._extensions..js (internal/modules/cjs/loader.js:1114:10)
0|docker-s | at Module.load (internal/modules/cjs/loader.js:950:32)
0|docker-s | at Function.Module._load (internal/modules/cjs/loader.js:790:12)
npm --version
6.14.17
node --version
v14.20.1
S.O
Distributor ID: Ubuntu
Description: Ubuntu 22.04.1 LTS
Release: 22.04
Codename: jammy
docker-compose --version
docker-compose version 1.29.2, build unknown
docker --version
Docker version 20.10.20, build 9fdeb9c
ecosystem.config.js
module.exports = {
apps: [
{
name: 'docker-services',
cwd: './docker',
script: 'docker-compose',
args: 'up',
kill_timeout: 100000,
},
],
};