Fatal error when activating plugin after upgrade to php 8.1 and WordPress 6.3.1

Fatal error: Uncaught Error: Call to undefined function W3TC\set_time_limit() in /home/vol5_7/byethost7.com/b7_33793776/htdocs/wp-content/plugins/w3-total-cache/Cache_File.php:276 Stack trace: #0 /home/vol5_7/byethost7.com/b7_33793776/htdocs/wp-content/plugins/w3-total-cache/ObjectCache_WpObjectCache_Regular.php(522): W3TC\Cache_File->flush() #1 /home/vol5_7/byethost7.com/b7_33793776/htdocs/wp-content/plugins/w3-total-cache/CacheFlush_Locally.php(41): W3TC\ObjectCache_WpObjectCache_Regular->flush() #2 /home/vol5_7/byethost7.com/b7_33793776/htdocs/wp-content/plugins/w3-total-cache/CacheFlush.php(66): W3TC\CacheFlush_Locally->objectcache_flush() #3 /home/vol5_7/byethost7.com/b7_33793776/htdocs/wp-content/plugins/w3-total-cache/ObjectCache_Plugin.php(174): W3TC\CacheFlush->objectcache_flush() #4 /home/vol5_7/byethost7.com/b7_33793776/htdocs/wp-includes/class-wp-hook.php(310): W3TC\ObjectCache_Plugin->on_change_option(‘_transient_w3tc…’) #5 /home/vol5_7/byethost7.com/b7_33793776/htdocs/wp-includes/class-wp-hook.php(334): WP_Hook->apply_filters(”, Array) #6 /home/vol5_7/byethost7.com/b7_33793776/htdocs/wp-includes/plugin.php(517): WP_Hook->do_action(Array) #7 /home/vol5_7/byethost7.com/b7_33793776/htdocs/wp-includes/option.php(778): do_action(‘delete_option’, ‘_transient_w3tc…’) #8 /home/vol5_7/byethost7.com/b7_33793776/htdocs/wp-content/plugins/w3-total-cache/ObjectCache_WpObjectCache_Regular.php(640): delete_option(‘_transient_w3tc…’) #9 /home/vol5_7/byethost7.com/b7_33793776/htdocs/wp-content/plugins/w3-total-cache/ObjectCache_WpObjectCache_Regular.php(190): W3TC\ObjectCache_WpObjectCache_Regular->_transient_fallback_get(‘w3tc.verify_plu…’, ‘transient’) #10 /home/vol5_7/byethost7.com/b7_33793776/htdocs/wp-content/plugins/w3-total-cache/ObjectCache_WpObjectCache.php(36): W3TC\ObjectCache_WpObjectCache_Regular->get(‘w3tc.verify_plu…’, ‘transient’, false, false) #11 /home/vol5_7/byethost7.com/b7_33793776/htdocs/wp-content/object-cache.php(52): W3TC\ObjectCache_WpObjectCache->get(‘w3tc.verify_plu…’, ‘transient’, false, false) #12 /home/vol5_7/byethost7.com/b7_33793776/htdocs/wp-includes/option.php(906): wp_cache_get(‘w3tc.verify_plu…’, ‘transient’) #13 /home/vol5_7/byethost7.com/b7_33793776/htdocs/wp-content/plugins/w3-total-cache/Generic_Plugin_AdminCompatibility.php(23): get_transient(‘w3tc.verify_plu…’) #14 /home/vol5_7/byethost7.com/b7_33793776/htdocs/wp-content/plugins/w3-total-cache/Root_Loader.php(140): W3TC\Generic_Plugin_AdminCompatibility->run() #15 /home/vol5_7/byethost7.com/b7_33793776/htdocs/wp-content/plugins/w3-total-cache/Root_Loader.php(274): W3TC\Root_Loader->run() #16 /home/vol5_7/byethost7.com/b7_33793776/htdocs/wp-content/plugins/w3-total-cache/w3-total-cache.php(73): require_once(‘/home/vol5_7/by…’) #17 /home/vol5_7/byethost7.com/b7_33793776/htdocs/wp-admin/includes/plugin.php(2318): include_once(‘/home/vol5_7/by…’) #18 /home/vol5_7/byethost7.com/b7_33793776/htdocs/wp-admin/plugins.php(192): plugin_sandbox_scrape(‘w3-total-cache/…’) #19 {main} thrown in /home/vol5_7/byethost7.com/b7_33793776/htdocs/wp-content/plugins/w3-total-cache/Cache_File.php on line 276