No longer able to read Music library on iMac

Hi,

It's been a few months since I can no longer open my Music library on my iMac (2019 - running on Ventura 13.6). I get the following message: "Your library cannot be read because it was created by a newer version of Music". I then get a choice between choosing a library (where I can only access the old iTunes libraries before they were converted to Music) or create a library (but then I'm concerned it won't synchronise with my Music library on my iPhone which is still working). I can see that my Music library on my iMac was last updated in Oct 2023.

Is there anyway to restore my Music library on the iMac and keep having the same library synchronised with my iPhone?

Many thanks for the help

Fred