H5P fails to work after Moodle 3.5 upgrade

We recently upgraded our Moodle installation to version 3.5

Post upgrade we are unable to create H5P content, nor load any previous content.

We see only Loading, please wait with animated circle icon when we try to create new content.

For interactive Video, the brouser console shows following error:

VM2462:4683 Uncaught TypeError: Cannot set property 'Explainer' of undefined

    at eval (eval at ns.libraryRequested (h5peditor.js?ver=2018053100:78), <anonymous>:4683:24)

    at eval (<anonymous>)

    at Object.ns.libraryRequested (h5peditor.js?ver=2018053100:78)

    at Object.success (h5peditor.js?ver=2018053100:137)

    at c (jquery.js?ver=2018053100:2)

    at Object.fireWith [as resolveWith] (jquery.js?ver=2018053100:2)

For Multiple Choice we get following error:

h5peditor-semantic-structure.js?ver=2018053100:215 Uncaught TypeError: Cannot read property 'name' of undefined

    at List.SemanticStructure.self.appendTo (h5peditor-semantic-structure.js?ver=2018053100:215)

    at ns.Group.appendTo (h5peditor-group.js?ver=2018053100:118)

    at Object.ns.processSemanticsChunk (h5peditor.js?ver=2018053100:234)

    at ns.Form.processSemantics (h5peditor-form.js?ver=2018053100:89)

    at h5peditor-library-selector.js?ver=2018053100:165

    at Object.ns.libraryRequested (h5peditor.js?ver=2018053100:85)

    at Object.success (h5peditor.js?ver=2018053100:137)

    at c (jquery.js?ver=2018053100:2)

    at Object.fireWith [as resolveWith] (jquery.js?ver=2018053100:2)

    at k (jquery.js?ver=2018053100:4)

    at k (jquery.js?ver=2018053100:4)

    at XMLHttpRequest.r (jquery.js?ver=2018053100:4)

Similarly there are errors for every content.

We have tried updating the plugin to latest version and also update all content types from the H5p hub. Icons for Dialog Cards and appear.in for chat also do not show up in h5p hub.

Please help to resolve this issue.

Thanks.