Sandbox conduit service did not start

I just installed Docker Desktop (4.36.0) and the Sandbox on Mac OS (M1) Sequoia 15.1.1. When starting the Sandbox it fails due to services not starting:

./sandbox up dev -v

Starting sandbox for: dev
* running: docker compose up [--verbose] -d
DEBU[0000] Enabled Docker Desktop integration (experimental) @ unix:///Users/Algodev/Library/Containers/com.docker.docker/Data/docker-cli.sock 
[+] Running 4/0
 ✔ Container algorand-sandbox-algod     Running                                                                                                                            
 ✔ Container algorand-sandbox-postgres  Running                                                                                                                            
 ✔ Container algorand-sandbox-conduit   Running                                                                                                                            
 ✔ Container algorand-sandbox-indexer   Running                                                                                                                            
DEBU[0000] otel error                                    error="<nil>"
DEBU[0000] otel error                                    error="<nil>"
* waiting for services to initialize.
the following did not start:
* conduit
One or more services failed to start.

Any ideas what might be going wrong?

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