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Updating dependencies
Your requirements could not be resolved to an installable set of packages.

  Problem 1
    - ocramius/proxy-manager[2.2.0, ..., 2.2.3] require ocramius/package-versions ^1.1.3 -> satisfiable by ocramius/package-versions[1.1.3, ..., 1.11.0].
    - ocramius/package-versions[1.1.3, ..., 1.2.0] require composer-plugin-api ^1.0 -> found composer-plugin-api[2.0.0] but it does not match the constraint.
    - ocramius/proxy-manager[2.3.0, ..., 2.5.2] require php ^7.4.0 -> your php version (7.3.20) does not satisfy that requirement.
    - ocramius/package-versions[1.6.0, ..., 1.9.0] require php ^7.4.0 -> your php version (7.3.20) does not satisfy that requirement.
    - ocramius/package-versions[1.3.0, ..., 1.5.1] require composer-plugin-api ^1.0.0 -> found composer-plugin-api[2.0.0] but it does not match the constraint.
    - ocramius/proxy-manager[2.6.0, ..., 2.7.0] require php 7.4.* -> your php version (7.3.20) does not satisfy that requirement.
    - ocramius/proxy-manager 2.7.1 requires php 7.4.0 -> your php version (7.3.20) does not satisfy that requirement.
    - ocramius/package-versions[1.10.0, ..., 1.11.0] require php ^7.4.7 -> your php version (7.3.20) does not satisfy that requirement.
    - ocramius/proxy-manager[2.8.0, ..., 2.10.0] require php ~7.4.1 -> your php version (7.3.20) does not satisfy that requirement.
    - Root composer.json requires ocramius/proxy-manager ^2.2 -> satisfiable by ocramius/proxy-manager[2.2.0, ..., 2.10.0].

ocramius/package-versions only provides support for Composer 2 in 1.8+, which requires PHP 7.4.
If you can not upgrade PHP you can require composer/package-versions-deprecated to resolve this with PHP 7.0+.

You are using Composer 2, which some of your plugins seem to be incompatible with. Make sure you update your plugins or report a plugin-issue to ask them to support Composer 2.