Error in console after WP 5.5 update

After updating WordPress to 5.5, WP Compress generates an error in the browser console and the admin pages aren working completely as they should. You can replicate it with default Twenty Twenty theme and no other plugins active.

The error:

Uncaught TypeError: $(...).live is not a function
    at HTMLDocument.<anonymous> (plugins.php:468)
    at i (load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:2)
    at Object.fireWith [as resolveWith] (load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:2)
    at Function.ready (load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:2)
    at HTMLDocument.J (load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:2)
(anonymous) @ plugins.php:468
i @ load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:2
fireWith @ load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:2
ready @ load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:2
J @ load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:2
wp-auth-check.min.js?ver=5.5:2 Uncaught TypeError: Cannot read property 'hasClass' of undefined
    at HTMLDocument.<anonymous> (wp-auth-check.min.js?ver=5.5:2)
    at HTMLDocument.dispatch (load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:3)
    at HTMLDocument.r.handle (load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:3)
    at Object.trigger (load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:3)
    at HTMLDocument.<anonymous> (load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:3)
    at Function.each (load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:2)
    at n.fn.init.each (load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:2)
    at n.fn.init.trigger (load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:3)
    at Object.<anonymous> (heartbeat.min.js?ver=5.5:2)
    at i (load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:2)
(anonymous) @ wp-auth-check.min.js?ver=5.5:2
dispatch @ load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:3
r.handle @ load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:3
trigger @ load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:3
(anonymous) @ load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:3
each @ load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:2
each @ load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:2
trigger @ load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:3
(anonymous) @ heartbeat.min.js?ver=5.5:2
i @ load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:2
fireWith @ load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:2
x @ load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:4
c @ load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:4
XMLHttpRequest.send (async)
send @ load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:4
ajax @ load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:4
l @ heartbeat.min.js?ver=5.5:2
d @ heartbeat.min.js?ver=5.5:2
v @ heartbeat.min.js?ver=5.5:2
(anonymous) @ heartbeat.min.js?ver=5.5:2
dispatch @ load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:3
r.handle @ load-scripts.php?c=1&load[chunk_0]=jquery,utils&ver=5.5:3

This has probably something to do with the new jQuery version in WP 5.5. I’ve deactivated your plugin for now, so I hope you can fix it soon. ??