IntelliJ: Abnormal build process termination Error with IDEA 2021.2 Update

If you have recently updated the IDEA to 2021.2 (Community or Ultimate Edition);

IntelliJ IDEA 2021.2 (Community OR Ultimate Edition)
Build #IU-212.4746.92, built on July 27, 2021

And if you are getting the following error during the compile,

Abnormal build process termination:
"C:\Program Files (x86)\Java\jdk1.8.0_291\bin\java.exe" -Xmx700m -Djava.awt.headless=true -Djava.endorsed........IdeaIC2021.2/compile-server
Unrecognized option: --add-opens=jdk.compiler/com.sun.tools.javac.code=ALL-UNNAMED
Error: Could not create the Java Virtual Machine.
Error: A fatal exception has occurred. Program will exit.

Try out the following Fix;

Along with the latest update to IDEA 2021.2, Some configuration were changed. Therefore you will need to switch your project structure back to JDK8 :

• Go to File > “Project Structure”.
• In the ‘Project Structure’ popup-window, Select Project under the Project Settings (Project Settings > Project)
• Check on the Project language level option.
  It should be selected as option 16

• Change the selection to back to option 8

• Click OK and Try to Invalidate Cache and Restart the IDE.

It should work out. Adios!!
Feel free to share your experience below.