Yoast SEO 14.0.4 results in database error

I began using Yoast SEO with version 1.4.22, which worked on WordPress 3.8 at the time. I continued without issue with Yoast SEO 13.5 on WordPress 5.4.1. However, as of Yoast SEO 14.0.4, this plugin does not work properly: “Error: Yoast SEO cannot create database tables”.

I am aware of table changes in version 14. I am also aware of why they did it (see here: https://yoast.com/yoast-seo-14-0/), and how it is supposed to work. My problem with all of this is simple: if I can install the plugin and it creates new tables, then why won’t it create new tables with version 14?