AttributeError: module 'pkgutil' has no attribute 'ImpImporter'. Did you mean: 'zipimporter'?

Earlier I installed some packages like Matplotlib, NumPy, pip (version 23.3.1), wheel (version 0.41.2), etc., and did some programming with those. I used the command C:\Users\UserName>pip list to find the list of packages that I have installed, and I am using Python 3.12.0 (by employing code C:\Users\UserName>py -V).

I need to use pyspedas to analyse some data. I am following the instruction that that I received from site to install the package, with a variation (I am not sure whether it matters or not: I am using py, instead of python). The commands that I use, in the order, are:

py -m venv pyspedas
.\pyspedas\Scripts\activate
pip install pyspedas

After the last step, I am getting the following output:

Collecting pyspedas
  Using cached pyspedas-1.4.47-py3-none-any.whl.metadata (14 kB)
Collecting numpy>=1.19.5 (from pyspedas)
  Using cached numpy-1.26.1-cp312-cp312-win_amd64.whl.metadata (61 kB)
Collecting requests (from pyspedas)
  Using cached requests-2.31.0-py3-none-any.whl.metadata (4.6 kB)
Collecting geopack>=1.0.10 (from pyspedas)
  Using cached geopack-1.0.10-py3-none-any.whl (114 kB)
Collecting cdflib<1.0.0 (from pyspedas)
  Using cached cdflib-0.4.9-py3-none-any.whl (72 kB)
Collecting cdasws>=1.7.24 (from pyspedas)
  Using cached cdasws-1.7.43.tar.gz (21 kB)
  Installing build dependencies ... done
  Getting requirements to build wheel ... done
  Preparing metadata (pyproject.toml) ... done
Collecting netCDF4>=1.6.2 (from pyspedas)
  Using cached netCDF4-1.6.5-cp312-cp312-win_amd64.whl.metadata (1.8 kB)
Collecting pywavelets (from pyspedas)
  Using cached PyWavelets-1.4.1.tar.gz (4.6 MB)
  Installing build dependencies ... done
  Getting requirements to build wheel ... error
  error: subprocess-exited-with-error

  × Getting requirements to build wheel did not run successfully.
  │ exit code: 1
  ╰─> [33 lines of output]
      Traceback (most recent call last):
        File "C:\Users\UserName\pyspedas\Lib\site-packages\pip\_vendor\pyproject_hooks\_in_process\_in_process.py", line 353, in <module>
          main()
        File "C:\Users\UserName\pyspedas\Lib\site-packages\pip\_vendor\pyproject_hooks\_in_process\_in_process.py", line 335, in main
          json_out['return_val'] = hook(**hook_input['kwargs'])
                                   ^^^^^^^^^^^^^^^^^^^^^^^^^^^^
        File "C:\Users\UserName\pyspedas\Lib\site-packages\pip\_vendor\pyproject_hooks\_in_process\_in_process.py", line 112, in get_requires_for_build_wheel
          backend = _build_backend()
                    ^^^^^^^^^^^^^^^^
        File "C:\Users\UserName\pyspedas\Lib\site-packages\pip\_vendor\pyproject_hooks\_in_process\_in_process.py", line 77, in _build_backend
          obj = import_module(mod_path)
                ^^^^^^^^^^^^^^^^^^^^^^^
        File "C:\Users\UserName\AppData\Local\Programs\Python\Python312\Lib\importlib\__init__.py", line 90, in import_module
          return _bootstrap._gcd_import(name[level:], package, level)
                 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
        File "<frozen importlib._bootstrap>", line 1381, in _gcd_import
        File "<frozen importlib._bootstrap>", line 1354, in _find_and_load
        File "<frozen importlib._bootstrap>", line 1304, in _find_and_load_unlocked
        File "<frozen importlib._bootstrap>", line 488, in _call_with_frames_removed
        File "<frozen importlib._bootstrap>", line 1381, in _gcd_import
        File "<frozen importlib._bootstrap>", line 1354, in _find_and_load
        File "<frozen importlib._bootstrap>", line 1325, in _find_and_load_unlocked
        File "<frozen importlib._bootstrap>", line 929, in _load_unlocked
        File "<frozen importlib._bootstrap_external>", line 994, in exec_module
        File "<frozen importlib._bootstrap>", line 488, in _call_with_frames_removed
        File "C:\Users\UserName\AppData\Local\Temp\pip-build-env-_lgbq70y\overlay\Lib\site-packages\setuptools\__init__.py", line 16, in <module>
          import setuptools.version
        File "C:\Users\UserName\AppData\Local\Temp\pip-build-env-_lgbq70y\overlay\Lib\site-packages\setuptools\version.py", line 1, in <module>
          import pkg_resources
        File "C:\Users\UserName\AppData\Local\Temp\pip-build-env-_lgbq70y\overlay\Lib\site-packages\pkg_resources\__init__.py", line 2191, in <module>
          register_finder(pkgutil.ImpImporter, find_on_path)
                          ^^^^^^^^^^^^^^^^^^^
      AttributeError: module 'pkgutil' has no attribute 'ImpImporter'. Did you mean: 'zipimporter'?
      [end of output]

  note: This error originates from a subprocess, and is likely not a problem with pip.
error: subprocess-exited-with-error

× Getting requirements to build wheel did not run successfully.
│ exit code: 1
╰─> See above for output.

note: This error originates from a subprocess, and is likely not a problem with pip.

After little bit of googling, I came to know that this issues was reported at multiple places, but none for this package. I did install wheel in the new environment as mentioned in the answer here, but the problem still persists.

Instead of setting up a virtual environment, I simply executed the command py -m pip install pyspedas. But I am still getting the error.

What I could gather is that the program has an issue with

Collecting pywavelets (from pyspedas)
  Using cached PyWavelets-1.4.1.tar.gz (4.6 MB)
  Installing build dependencies ... done

I am using IDLE in Windows 11.