animate package errors out after upgrading to TexLive 2021

I've recently upgraded my TexLive to 2021 version on my Ubuntu (18.04 LTS) machine. I have a .sty file for compiling my lecture slides which requires animate package. After the upgrade, the .tex files cannot be compiled due to an error going like this

Undefined control sequence.
<argument> \g_pbs_ocgbase_loaded_bool 

I tried to root-cause the issue here. But it seems that the workaround there is not the best one as just commenting out the animate package will resolve the issue.

Any insight on how to resolve the issue or any update on the package is very much obliged.