Failed to start Docker Application Container Engine on RHEL 7.9 with an error initializing graphdriver

Hi everyone,
I’m running into an issue where my docker (Docker version 23.0.0, build e92dd87) is not longer able to start after doing a yum update. The system is running on RHEL 7.9 (Maipo). Has anyone seen this issue before and how do I resolve this? Thank you in advance.

Here are the error messages:
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: time=“2023-02-06T14:04:40.421938706-06:00” level=info msg=“[core] [Channel #1] Channel switches to new LB policy "pick_first"” module=grpc
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: time=“2023-02-06T14:04:40.422056771-06:00” level=info msg=“[core] [Channel #1 SubChannel #2] Subchannel created” module=grpc
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: time=“2023-02-06T14:04:40.422132641-06:00” level=info msg=“[core] [Channel #1 SubChannel #2] Subchannel Connectivity change to CONNECTING” module=grpc
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: time=“2023-02-06T14:04:40.422166400-06:00” level=info msg=“[core] [Channel #1 SubChannel #2] Subchannel picks a new address "/run/containerd/containerd.sock" to connect” module=grpc
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: time=“2023-02-06T14:04:40.422572756-06:00” level=info msg=“[core] [Channel #1] Channel Connectivity change to CONNECTING” module=grpc
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: time=“2023-02-06T14:04:40.432106169-06:00” level=info msg=“[core] [Channel #1 SubChannel #2] Subchannel Connectivity change to READY” module=grpc
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: time=“2023-02-06T14:04:40.432147825-06:00” level=info msg=“[core] [Channel #1] Channel Connectivity change to READY” module=grpc
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: time=“2023-02-06T14:04:40.436078674-06:00” level=info msg=“[core] [Channel #4] Channel created” module=grpc
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: time=“2023-02-06T14:04:40.436106069-06:00” level=info msg=“[core] [Channel #4] original dial target is: "unix:///run/containerd/containerd.sock"” module=grpc
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: time=“2023-02-06T14:04:40.436134784-06:00” level=info msg=“[core] [Channel #4] parsed dial target is: {Scheme:unix Authority: Endpoint:run/containerd/containerd.sock URL:{Scheme:unix Opaqu
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: time=“2023-02-06T14:04:40.436154717-06:00” level=info msg=”[core] [Channel #4] Channel authority set to "localhost"" module=grpc
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: time=“2023-02-06T14:04:40.436189523-06:00” level=info msg=“[core] [Channel #4] Resolver state updated: {\n "Addresses": [\n {\n "Addr": "/run/containerd/containerd.sock",\n
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: time=“2023-02-06T14:04:40.436226217-06:00” level=info msg=”[core] [Channel #4] Channel switches to new LB policy "pick_first"" module=grpc
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: time=“2023-02-06T14:04:40.436262085-06:00” level=info msg=“[core] [Channel #4 SubChannel #5] Subchannel created” module=grpc
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: time=“2023-02-06T14:04:40.436296087-06:00” level=info msg=“[core] [Channel #4 SubChannel #5] Subchannel Connectivity change to CONNECTING” module=grpc
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: time=“2023-02-06T14:04:40.436322961-06:00” level=info msg=“[core] [Channel #4 SubChannel #5] Subchannel picks a new address "/run/containerd/containerd.sock" to connect” module=grpc
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: time=“2023-02-06T14:04:40.436478409-06:00” level=info msg=“[core] [Channel #4] Channel Connectivity change to CONNECTING” module=grpc
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: time=“2023-02-06T14:04:40.440315038-06:00” level=info msg=“[core] [Channel #4 SubChannel #5] Subchannel Connectivity change to READY” module=grpc
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: time=“2023-02-06T14:04:40.440352319-06:00” level=info msg=“[core] [Channel #4] Channel Connectivity change to READY” module=grpc
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: time=“2023-02-06T14:04:40.449512583-06:00” level=warning msg=“Usage of loopback devices is strongly discouraged for production use. Please use `–storage-opt dm.thinpooldev` or use `man do
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: time=“2023-02-06T14:04:40.469619743-06:00” level=warning msg=“Base device already exists and has filesystem ext4 on it. User specified filesystem will be ignored.” storage-driver=devicema
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: time=“2023-02-06T14:04:40.475879467-06:00” level=error msg=”[graphdriver] prior storage driver devicemapper is deprecated and will be removed in a future release; update the the daemon con
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: time=“2023-02-06T14:04:40.476215797-06:00” level=info msg=“[core] [Channel #1] Channel Connectivity change to SHUTDOWN” module=grpc
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: time=“2023-02-06T14:04:40.476253994-06:00” level=info msg=“[core] [Channel #1 SubChannel #2] Subchannel Connectivity change to SHUTDOWN” module=grpc
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: time=“2023-02-06T14:04:40.476278069-06:00” level=info msg=“[core] [Channel #1 SubChannel #2] Subchannel deleted” module=grpc
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: time=“2023-02-06T14:04:40.476291507-06:00” level=info msg=“[core] [Channel #1] Channel deleted” module=grpc
Feb 06 14:04:40 vm1.xx.cloud dockerd[1336]: failed to start daemon: error initializing graphdriver: prior storage driver devicemapper is deprecated and will be removed in a future release; update the the daemon configuration and exp
Feb 06 14:04:40 vm1.xx.cloud systemd[1]: docker.service: main process exited, code=exited, status=1/FAILURE
Feb 06 14:04:40 vm1.xx.cloud systemd[1]: Failed to start Docker Application Container Engine.
Feb 06 14:04:40 vm1.xx.cloud systemd[1]: Unit docker.service entered failed state.
Feb 06 14:04:40 vm1.xx.cloud systemd[1]: docker.service failed.
Feb 06 14:04:42 vm1.xx.cloud systemd[1]: docker.service holdoff time over, scheduling restart.
Feb 06 14:04:42 vm1.xx.cloud systemd[1]: Stopped Docker Application Container Engine.
Feb 06 14:04:42 vm1.xx.cloud systemd[1]: start request repeated too quickly for docker.service
Feb 06 14:04:42 vm1.xx.cloud systemd[1]: Failed to start Docker Application Container Engine.
Feb 06 14:04:42 vm1.xx.cloud systemd[1]: Unit docker.service entered failed state.
Feb 06 14:04:42 vm1.xx.cloud systemd[1]: docker.service failed.

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