Update to gmlaster's post that provide instructions for lifting the Aspyr's version max.file.limit. I ran across a similar issue/solution with Apache at https://mampsupportforum.com/viewtopic.php?t=155
There they describe how to lift this limit without needing xcode. I also attached an RTF of the page to this message in case the page disappears at a later date. I tried this method and it appears to be working from the troubleshooting commands provided on that page. You can skip over the part to increase max processes as the default setting should be more than enough.
Last login: Fri Jan 20 10:06:51 on console
sxl168@Mac-M1 ~ % launchctl limit maxfiles
maxfiles 64000 524288
sxl168@Mac-M1 ~ % ulimit -a
-t: cpu time (seconds) unlimited
-f: file size (blocks) unlimited
-d: data seg size (kbytes) unlimited
-s: stack size (kbytes) 8176
-c: core file size (blocks) 0
-v: address space (kbytes) unlimited
-l: locked-in-memory size (kbytes) unlimited
-u: processes 2666
-n: file descriptors 64000
sxl168@Mac-M1 ~ %
Increase Max Files and Processes Mac OS Monterey.rtfd.zip