Livewire loading spinner keeps on coming when I tried type in ckeditor textarea.

Hi I am new Laravel developer, please forgive me if I am asking very silly question, I am trying to use ckeditor version 5 with livewire version 3. My livewire code:

<div wire:ignore>
<textarea wire:model="redressbody"   class="form-control" id="exampleFormControlTextarea1" rows="3" name="redressbody" @error('redressbody') is-invalid @enderror>
<br><br><br><br><br><br>
<b>Thanks and Regards</b>,<br><b>{{auth()->guard('admin')->user()->name}}</b>,
<br>{{auth()>guard('admin')->user()->designation}}.
</textarea>
</div>

ckeditor code:

<script>
        ClassicEditor
            .create(document.querySelector('textarea'), {
                // CKEditor configuration options
            })
            .then(editor => {
                editor.model.document.on('change:data', () => {
                    @this.set('redressbody', editor.getData())
                });
            })
            .catch(error => {
                console.error(error);
            });

    </script>

And my spinner loading code when I submit the form method name="redress" in livewire component:

<div wire:loading wire:target="redress">
                            <div id="loading">
                                <img id="loading-image" src="/images/preloader.gif" alt="Loading..." />
                            </div>
                        </div>

It was working fine in livewire V2 now when I upgrade it to V3 now the loading spinner keeps on coming whenever I type in textarea. What do I need to do?