pm2 start fails - PID does not load, can run from node <js file> but fails in pm2

What's going wrong?

After running pm2 start serverjs.js file it acts like it starts and is running but fails to create a PID and it is not running nodejs.
Works in our test and dev environment.
We do login with a service account in PROD , in dev and test we login to server with personal NT account.

[PM2] Done.
┌─────┬───────────────────────────┬─────────────┬─────────┬─────────┬──────────┬────────┬──────┬───────────┬──────────┬──────────┬──────────┬──────────┐
│ id │ name │ namespace │ version │ mode │ pid │ uptime │ ↺ │ status │ cpu │ mem │ user │ watching │
├─────┼───────────────────────────┼─────────────┼─────────┼─────────┼──────────┼────────┼──────┼───────────┼──────────┼──────────┼──────────┼──────────┤
│ 6 │ serverjs │ default │ N/A │ fork │ N/A │ 0s │ 0 │ online │ 0% │ 0b │ s.P… │ enabled │
└─────┴───────────────────────────┴─────────────┴─────────┴─────────┴──────────┴────────┴──────┴───────────┴──────────┴──────────┴──────────┴──────────┘
Module
┌────┬──────────────────────────────┬───────────────┬──────────┬──────────┬──────┬──────────┬──────────┬──────────┐
│ id │ module │ version │ pid │ status │ ↺ │ cpu │ mem │ user │
├────┼──────────────────────────────┼───────────────┼──────────┼──────────┼──────┼──────────┼──────────┼──────────┤
│ 0 │ @jessety/pm2-logrotate │ 2.7.1 │ 8136 │ online │ 0 │ 0% │ 0b │ s.P… │
└────┴──────────────────────────────┴───────────────┴──────────┴──────────┴──────┴──────────┴──────────┴──────────┘

Supporting information

PM2 version 5.2.2
OS: Win 2019
Node: v20.5.0 , running the binaries
Setup PM2: "npm run setup" while using "pm2-installer-main" package.
Environment: PROD

$ pm2 report

Start by reproducing pm2 start serverjs.js on Windows Server 2019 with PM2 5.2.2 and Node v20.5.0, then run pm2 report. Compare the PROD service-account setup with the working test and development environments; done means PM2 creates a PID and the Node process is actually running.