Error in Creating Custom Component Library

As described in Step 4 of the docs, I am running the init command to create a new custom component library:

$ npx retool-ccl init "CustomComponentLibrary" "Custom Component Library" "Library for self-contained custom components to be used in the Retool instance"

Upon executing this, I receive the following message:

Creating new library in the Retool backend..
Error! {
  error: ResponseError: Response returned an error code
      at CustomComponentLibraryApi.request (/Users/shubham/retool-custom-components/node_modules/@tryretool/custom-component-support/retool_client/runtime.js:213:15)
      at process.processTicksAndRejections (node:internal/process/task_queues:95:5)
      at async CustomComponentLibraryApi.customComponentLibrariesPostRaw (/Users/shubham/retool-custom-components/node_modules/@tryretool/custom-component-support/retool_client/apis/CustomComponentLibraryApi.js:280:26)
      at async CustomComponentLibraryApi.customComponentLibrariesPost (/Users/shubham/retool-custom-components/node_modules/@tryretool/custom-component-support/retool_client/apis/CustomComponentLibraryApi.js:293:26)
      at async Object.initLibraryCommand [as handler] (/Users/shubham/retool-custom-components/node_modules/@tryretool/custom-component-support/retoolCcl.js:23:9) {
    response: Response {
      [Symbol(realm)]: null,
      [Symbol(state)]: [Object],
      [Symbol(headers)]: [HeadersList]
    }
  },
  cause: undefined
}

=============
Newer version of @tryretool/custom-component-support available!
Please upgrade using the appropriate npm/yarn commands to receive new features and bug fixes:
  yarn upgrade @tryretool/custom-component-support
  npm update @tryretool/custom-component-support

See https://docs.retool.com/apps/web/guides/components/custom-components-beta for more details.
=============

What's interesting is that when I go to https://mysubdomain.retool.com/settings/custom-component-libraries, I see the newly created library there whose most recent version is dev. However, the UI component I added as part of this library doesn't appear in the '+' menu on the left side of the canvas when developing my app. Moreover, my package.json file does not get updated with a retoolCustomComponentLibraryConfig.

I have updated @tryretool/custom-component-support by running npm update @tryretool/custom-component-support without any errors.

Are you on Could or Self-hosted Retool?