GitLab Runner with Docker executor: “client version 1.43 is too old”

Setting up a Docker image build in my GitLab ci I got this error:

ERROR: Error response from daemon: client version 1.43 is too old. Minimum supported API version is 1.44, please upgrade your client to a newer version: driver not connecting

Docker version on the VM running the GitLab Runner:

$ docker --version
Docker version 29.1.3, build f52814d

Versions in my .gitlab-ci.yml:

image: docker:24.0.5-cli
services:
  - docker:24.0.5-dind

Updated both to match the Docker version on the VM resolved the issue.