Unfortunately after the latest update on 03/23 it is still not working correctly with version 3.1.16 on WordPress 5.5.3. I have deactivated it, the loopback error is now gone, and I have to find another download manager.
I cannot upgrade to WP 5.7 because of other plugins only good up to WP 5.6.2. I might give it another chance when I can upgrade to 5.7.