incompatibility between APM node.js agent 3.0.0 and APM server 7.4.0

Question

I'm having problem with compatibility of APM server and APM agent (Elastic Stack).

"elastic-apm-node": "^3.0.0"

Configuration:

var apm = require('elastic-apm-node').start({
  serviceName: "******-dev",
  captureBody: 'all',
  stackTraceLimit: 10,
  transactionMaxSpans:10,
  serverUrl: "http://localhost:5601"
}).addErrorFilter(function (payload) {
  if(payload.context.response && payload.context.response.status_code === 429){
    return false;
  }
  return payload;
})

APM-Server version: 7.4.0

Error:

APM Server responded with "404 Not Found". This might be because you're running an incompatible version of the APM Server. This agent only supports APM Server v6.5 and above. If you're using an older version of the APM Server, please downgrade this agent to version 1.x or upgrade the APM Server
{"statusCode":404,"error":"Not Found","message":"Not Found"}