Docker | Postgres Database is uninitialized and superuser password is not specified

I am using docker-compose.yml to create multiple running containers but failing to start Postgres docker server, with following logs and yes I have searched many related SO posts, but they didn't helped me out.

Creating network "complex_default" with the default driver
Creating complex_server_1   ... done
Creating complex_redis_1    ... done
Creating complex_postgres_1 ... done
Attaching to complex_postgres_1, complex_redis_1, complex_server_1
postgres_1  | Error: Database is uninitialized and superuser password is not specified.
postgres_1  |        You must specify POSTGRES_PASSWORD to a non-empty value for the
postgres_1  |        superuser. For example, "-e POSTGRES_PASSWORD=password" on "docker run".
postgres_1  |
postgres_1  |        You may also use "POSTGRES_HOST_AUTH_METHOD=trust" to allow all
postgres_1  |        connections without a password. This is *not* recommended.
postgres_1  |
postgres_1  |        See PostgreSQL documentation about "trust":
postgres_1  |        https://www.postgresql.org/docs/current/auth-trust.html
complex_postgres_1 exited with code 1

below is my docker-compose configuration:

version: '3'
services:
    postgres:
        image: 'postgres:11-alpine'
    redis:
        image: 'redis:latest'
    server:
        build:
            dockerfile: Dockerfile.dev
            context: ./server
        volumes:
            - /app/node_modules
            - ./server:/app
        environment:
            - REDIS_HOST=redis
            - REDIS_PORT=6379
            - PGUSER=postgres
            - PGHOST=postgres
            - PGDATABASE=postgres
            - PGPASSWORD=postgres_password
            - PGPORT=5432

as well as package.json inside server directory is following:

{
    "dependencies": {
        "body-parser": "^1.19.0",
        "cors": "^2.8.4",
        "express": "^4.16.3",
        "nodemon": "^2.0.4",
        "pg": "7.4.3",
        "redis": "^2.8.0"
    },
    "scripts": {
        "dev": "nodemon",
        "start": "node index.js"
    }
}

also for better consideration, I have attached my hands-on project structure:

A year ago it were actually working fine, Does anyone have any idea, what's going wrong here inside my docker-compose file now.